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The Watermark - National Flood Insurance Program Financial Statements

The Watermark is a quarterly report that provides transparency on the financial state of the National Flood Insurance Program (NFIP). This report provides information about the NFIP to interested groups and individuals, such as policyholders, industry partners and government officials.

Download the Latest Watermark - Third Quarter FY2020


Current as of June 30, 2020

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Participating Communities

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Average Annual Premium
(Incl. Premium & Federal Policy Fee)

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$1.3 Trillion

Total Coverage of NFIP Policies

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5.016 Million

Number of NFIP Policies in Force

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$16 Billion

Capacity to Pay Claims

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$20.5 Billion

Outstanding Debt with Treasury

Featured News

Through an initiative known as the Future of Flood Risk Data (FFRD), FEMA aims to provide a more comprehensive picture of the country’s flood hazards and risk by leveraging new technologies to provide flood information more efficiently, accurately, and consistently across the nation.

BRIC will make $500 million available to states, local governments, US territories and tribes for mitigation activities designed to strengthen the Nation’s efforts to build a Culture of Preparedness.

NFIP Available Funds - as of 6/30/2020

The NFIP’s Available Resources provides information similar to a “Balance Sheet” used in the private sector. It is a snapshot of the program’s finances, including any prior period carryover for the given period.

AVAILABLE RESOURCES ($ in Thousands)March 31, 2020June 30, 2020
Flood Fund Balance5,174,2315,683,887
Unpaid Obligations(660,019)(726,112)
Unpaid Loss & Loss Adjustment (Claims)(345,259)(336,437)
Mandatory Sequestration(90,093)(90,093)
Flood Fund Available Resources4,078,8604,531,245
Reserve Fund Balance628,540160,567
Net Investments1,199,5461,739,066
Outstanding Obligations(450,236)(364,810)
Reserve Fund Available Resources1,377,8501,534,823
Remaining Borrowing Authority9,900,0009,900,000
NFIP Total Capacity to Pay Claims *15,356,71015,966,068

* FEMA’s reinsurance placements augment the NFIP’s Available Resources. After qualifying losses for a single event exceed $4B, the NFIP may collect up to $2.53B should the event reach $10B in losses.

Statements of Operations - as of 6/30/2020

National Flood Insurance Fund ($ in Thousands)

REVENUEFY 2019FY 2020 Q3FY 2020 YTD
Federal Policy Fee193,11455,559137,373
Other Revenue9,0392,1637,002
Total Flood Fund Revenue3,588,3291,104,3802,644,126
EXPENSESFY 2019FY 2020 Q3FY 2020 YTD
Total Loss & Loss Adjustment (Claims)1,884,347191,7261,179,192
Unpaid Loss & Loss Adjustment (Claims)*1,351,335(39,331)(1,045,238)
WriteYourOwn (WYO) Expense Allowance913,995244,357703,503
Interest Paid on Debt415,3410216,818
Floodplain Management & Mapping Activities147,2045,68286,570
Flood Related Grant Activities90,35417,41959,418
Other Expenses496,613207,481237,781
Total Flood Fund Expenses5,363,764644,6301,479,816
FLOOD FUND NET INCOME (LOSS)**(1,775,435)459,7501,164,310

National Flood Insurance Reserve Fund ($ in Thousands)

REVENUEFY 2019FY 2020 Q3FY 2020 YTD
Return on Investment17,4536827,554
Total Reserve Fund Revenue882,634204,172626,339
EXPENSESFY 2019FY 2020 Q3FY 2020 YTD
Total Loss & Loss Adjustment (Claims)000
Obligated But Not Expended27,074(85,427)162,844
Total Reserve Fund Expenses293,2142,850359,329
RESERVE FUND NET INCOME (LOSS)589,420201,323267,010

* In FY 2019, a new Federal Accounting Standard, Statement of Federal Financial Accounting Standards (SFFAS) 51 was issued that made changes to how claims are reported. SFFAS 51 gives guidance that claims must be reported at the time of occurrence. Unpaid Claims in this Watermark report show claims pursuant to SFFAS 51 and have been separated from Total Loss & Loss Adjustment. Unpaid claims include projections of claims reported, and projections of claims Incurred But Not Reported (IBNR), which is an estimate of claims not yet reported to insurance companies.

** The combination of Total Revenue and Total Expenses contribute to the Net Income or Net Losses for the NFIP. Because of the NFIP’s current structure of premium discounts, interest expenses on debt, and loss concentrations, Net Losses are anticipated.

Download Watermark Reports

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