FEMA Bulletin Week of Oct. 29, 2018

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October 29, 2018

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In this Edition:

Important Dates & Deadlines 

November 6

FEMA National Advisory Council Meeting Begins

FEMA National Advisory Council to Meet in Washington, D.C. Nov. 6-8

The FEMA National Advisory Council (NAC) will meet at the National Association of Counties in Washington, D.C. from Nov. 6-8, 2018.

Administrator Brock Long and FEMA senior leadership will speak to the group on Tuesday afternoon, Nov. 6, to discuss the May 2018 Recommendations and Responses, along with current strategic priorities at FEMA. On Wednesday morning, Nov. 7, the Congressionally-mandated Integrated Public Alert and Warnings System (IPAWS) Subcommittee will present its recommendations to the NAC, and the NAC Subcommittees will present their recommendations to the group on Wednesday afternoon. Thursday morning, Nov. 8, the NAC will hear about an approach to whole community engagement and get an update on the work of the National Integration Center.

The NAC advises FEMA’s administrator on all aspects of emergency management, including preparedness, protection, response, recovery, and mitigation for natural disasters, acts of terrorism, and other manmade disasters. The group is composed of representatives of federal, state, local and tribal governments, nonprofit agencies and the private sector.

For more information on the agenda and how to attend the November meeting, go online to the Federal Register Notice.

Public Notice of the FEMA Intended Procurement for NFIP

FEMA's National Flood Insurance Program (NFIP) has experienced many large flood disasters over its history, particularly in 2005, 2008, 2012, and 2017. As a result of these flood disasters, the cost of flood policy claims has far exceeded the NFIP’s premium revenues, and in turn, the NFIP has incurred debt to the U.S. Treasury.

FEMA first purchased significant reinsurance for the NFIP in 2017 and recovered $1.042 billion from the private markets due to losses from Hurricane Harvey. In 2018, FEMA expanded its cornerstone reinsurance placement by 40 percent. Effective January 1, 2018, for a term of one year, FEMA secured $1.46 billion in traditional reinsurance coverage from 28 reinsurance companies to cover qualifying NFIP flood losses in excess of $4 billion per event.

FEMA is committed to further developing and maturing the NFIP Reinsurance Program in a manner that helps strengthen the financial framework of the NFIP, is beneficial to policyholders and taxpayers, and expands the role of the private markets in managing U.S. flood risk. FEMA anticipates continuing its reinsurance program and plans to secure a new reinsurance placement in January 2019.

On October 26, 2018, FEMA published a notice of its intended reinsurance procurement for the NFIP for calendar year 2019. The official notice can be found here. This notice includes all the procurement, contact information, and details on how to submit a request for participation.

For more information about the Reinsurance Program visit https://www.fema.gov/nfip-reinsurance-program.