The American Academy of Actuaries has compiled a monograph detailing the challenges and possible solutions facing the National Flood Insurance Program (NFIP).  The purpose of the detailed report is to assist Congress and other stakeholders in understanding the key issues surrounding the NFIP and its role in flood management and recovery after catastrophic events.

The Flood Insurance Work Group was formed by the Academy’s Casualty Practice Council to provide actuarial support, advice, and communications on topics that involve flood insurance. Specifically, it is focused on the National Flood Insurance Program and proposed changes to its enabling legislation. It will also be considering the private flood insurance market and relevant reinsurance and catastrophe bond issues.

This comprehensive document covers the background and structure of the NFIP, its interaction with other Federal programs, funding, maps and modeling, privatization and more.  You can read the Executive Summary and the Summary and Conclusions sections by clicking the link below.  If you would like a copy of the complete monograph, email firmkeys@gmail.com.

NFIP Flood Monograph April 2017 Condensed

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