Virtually 600 communities in Minnesota take part within the National Flood Insurance coverage Program (NFIP). Whereas the flooding in the news in the present day facilities around the Gasconade, Meramec, and different rivers, floods can take place at any time and in surprising locations, according to the National Flood Insurance coverage Program , which supplies flood insurance coverage administered by the Federal Emergency Management Agency (FEMA).

The Office is working collaboratively with Florida insurers and effectively-capitalized reinsurers who’re all in favour of providing a non-public sector alternative to the NFIP. A 5% premium credit shall be utilized to the flood …