WV and National Disaster news - January 5, 2021


West Virginia
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National News
o   CNN reports hurricane force winds gusts from a barrage of storms coming out of the West have been seen across several states to include Oregon, California and Idaho. AccuWeather reports the training systems have also brought torrential rains to some areas and feet of snow to higher elevations. AccuWeather also reports as the first system moves eastward it has the potential to bring accumulating snow to parts of the South midweek. The storm is forecast to spread rain along the northeastern Gulf and southern Atlantic coasts from Thursday to Friday and may also take a northward jog along the Atlantic coast this weekend.
o   Insurance industry publication Reinsurance News (UK) reports FEMA has secured $1.153 billion of flood reinsurance for the National Flood Insurance Program (NFIP) for 2021, at a premium of $195.8 million. The article reports FEMA has been leveraging reinsurance for the NFIP for a number of years and more reinsurers are backing the program this year than ever before, including a number of first-time participants. The article also notes the amount of risk transferred to the 2021 traditional reinsurance market represents a decline of more than 13% from the previous year.

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