Flood Insurance & Catastrophe Risk

This unit examines the National Flood Insurance Program's statutory foundation, administrative framework, and delivery model. Learners will understand how FEMA, private carriers, and local governments collaborate to provide federally-backed flood insurance and enforce floodplain management standards.

This unit explores FEMA's Risk Rating 2.0 methodology, which fundamentally transformed NFIP pricing from flood zone-based rates to individualized property risk assessment. Learners will examine the rating variables, data integration, and equity implications of this actuarial reform.

This unit examines the federal mandatory purchase requirement for flood insurance, including statutory triggers, lender compliance obligations, force-placement procedures, and the regulatory framework governing mortgage lending in Special Flood Hazard Areas.

This unit examines the expanding private flood insurance market, including product features, regulatory acceptance criteria under the Biggert-Waters Act, competitive dynamics with the NFIP, and implications for flood risk management and consumer protection.

This unit examines coverage gaps inherent in NFIP policies and standard homeowners forms, including basement limitations, statutory coverage caps, excluded property types, and loss of use exclusions. Learners will understand excess flood insurance markets and coverage structuring strategies.

This unit examines the intersection of climate science and flood insurance, including climate change impacts on flood risk, catastrophe modeling methodologies, actuarial challenges of non-stationary risk, and policy options for sustainable flood risk management in a changing climate.