I read in the ST8 notes that "in some territories, such as France and the United States, flood protection is provided through government insurance or pooling arrangements". (Chapter 8 - External Environment - page 33 - 3rd last paragraph). How exactly do these arrangements work? Is there any, preferably online, sources where I could read into these arrangements further? All help much appreciated.
In the US foold insurance is a government insurance, called NFIP(Natioanl Flood Insurance Program). The Federal Insurance Administration(also FIA) is the true insurer/reinsurer and each primary insurer writing the flood insurance policy cedes 100% of the business to the FIA in fact. You can google NFIP and find many materials on that.
