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NFIP has received more than 57,400 flood insurance claims, totaling more than $4.5 billion, from Hurricane Helene alone. (Credit: Artranq/Adobe Stock)The Federal Emergency Management Agency (FEMA) is borrowing $2 billion from the U.S. Treasury to help pay out National Flood Insurance Program (NFIP) policyholder claims.
NFIP typically relies on premiums to pay claims, but heavy damage from storms in 2024 — including hurricanes Helene and Milton — generated tens of thousands of claims for the program. The outsize losses have depleted the NFIP’s funds.
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