A bill has been reintroduced to the United States Congress that again calls on lawmakers to codify that Federal Emergency Management Agency (FEMA), as the administrator of the U.S. National Flood Insurance Program (NFIP), sets a PML target each year and buys reinsurance and capital market risk transfer solutions accordingly.
The Taxpayer Exposure Mitigation Act is one of four bills reintroduced by Congressman Rep. Blaine Luetkemeyer of Missouri and focuses solely on mandating use of risk capital to support the NFIP’s financing needs, de-risk it and enable it to pay its claims.
