NU Online News Service, July 2, 12:58 p.m. EDT
The Reinsurance Association of America said it will start work immediately with the Federal Emergency Management Agency to implement a flood-law provision authorizing the federal agency to buy reinsurance to reduce the costs of funding the National Flood Insurance Program.
The provision was among a number of changes to the NFIP imposed through legislation that reauthorizes the program through Sept. 30, 2017.
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