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NFIP head leaving to oversee insurance safety institute

NFIP head leaving to oversee insurance safety institute

Roy E. Wright, deputy associate administrator of the Federal Insurance and Mitigation Administration within the Federal Emergency Management Agency, will leave the agency to become president and CEO of the Insurance Institute for Business & Home Safety.

Mr. Wright, who oversaw the National Flood Insurance Program, will assume both roles on April 25, replacing current president and CEO Julie Rochman, who will retire at the end of June, according to an institute statement issued Thursday. Mr. Wright will be based at the IBHS Research Center in Chester County, South Carolina.

“IBHS is a uniquely capable research organization and respected thought leader in the building science arena,” Craig Tillman, IBHS board chairman and president of Raleigh, North Carolina-based WeatherPredict Consulting Inc., an affiliate of RenaissanceRe, said in the statement. “Institute findings and guidance about how to better defend against severe weather are already increasing the resilience of the built environment. We are now focused on broadening the impact of IBHS work to benefit vulnerable communities across the nation.”

“We will continue to prove the value of resilience and encourage home and business owners to take steps large or small to reduce disaster response and recovery expenditures,” Mr. Wright said in the statement.

Mr. Wright led FEMA’s resilience, risk management, risk reduction and flood insurance programs and served as the NFIP’s chief executive, leading the reinsurance and risk transfer program that helped financially support the NFIP during 2017’s record-breaking storms, according to the institute.

“We will miss Roy’s leadership of the National Flood Insurance Program,” Frank Nutter, president of the Reinsurance Association of America, said in a statement Thursday. “He has worked tirelessly during his tenure at FEMA to improve the financial well-being of the program through improved hazard mitigation initiatives and the utilization of private reinsurance to transfer risk from the NFIP – steps that will ease the financial burden for flood risk now borne by the federal government and, ultimately, the American taxpayer.”



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