Harvey expected to cost NFIP $11bn

Hurricane Harvey will probably land the National Flood Insurance
Program (NFIP) with $11bn of losses, mostly in Texas, according to
the body's chief administrator.
The figure suggests that about $1bn in privately provided
reinsurance cover will be totally exhausted from Harvey-related
claims.
More than two dozen reinsurers backed the programme this year as it
bought meaningful cover for the first time in its nearly 50-year
lifespan, following a pilot effort involving $1mn of limit
purchased last