Harvey and Irma exhaust $5.8bn NFIP borrowing capacity

Claims from Hurricane Harvey have exhausted the National Flood
Insurance Program's $5.8bn borrowing authority, as anticipated
by the Federal Emergency Management Agency, or Fema.
But so far, only about $925mn in Harvey-related claims have been
paid by the NFIP, as the programme is known, on more than 88,000
claims received, almost all from Texas, Politico reported
today, citing Fema.
Over 25,000 claims have been submitted to the NFIP related to
Hurricane Irma, Politico said. Irma claims have com