For nearly sixty years, the question of who insures American flood risk had one answer: Washington. That answer now has an expiration date. On September 30, the National Flood Insurance Program's authority to write and renew policies lapses unless Congress acts — the latest cliff in a run of short-term patches that have left the same structural question unanswered since the program's last long-term reauthorization in 2012. Into that uncertainty steps private capital, armed with flood models that didn't exist the last time the program was rebuilt.
On Wednesday, July 22 — ten weeks before the deadline — three people who build and price that private alternative sit down for Risky Science Live: Matt Duffy (President & Chief Risk Officer, Neptune Flood), Firas Saleh (Director, Model Product Management, Moody's), and Brandon Katz (EVP, KatRisk). Risk Market News's Olivia Berkman moderates.
What can private flood models actually price that the NFIP can't? Where does private capital want this risk — and where does it run? And if Washington lets the authority lapse, who's ready to write the policy?
