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Craig Poulton is chief executive officer of Salt Lake City-based Poulton Associates, LLC, which administers various catastrophe related insurance products including the country’s largest private flood insurance program, the Natural Catastrophe Insurance Program at He has become a sought-after thought leader on flood insurance and is featured in or has authored many of the articles below.

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“The program would expose taxpayers to potentially huge liabilities, as the federal government would be on the hook for losses above a certain threshold and large insurers could potentially abuse the relatively low attachment points contemplated by the act,” Craig Poulton, CEO of Poulton Associates, which administers private flood insurance program the Natural Catastrophe Insurance Program, told Insurance Business.

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The CRS is flawed, though, because it undercuts FEMA’s newly established Risk Rating 2.0, which aims to base flood insurance rates more on the risk of individual properties, not area-wide and outdated flood maps, Craig Poulton, head of Poulton Associates, a private company that writes flood and catastrophe insurance, said.

Extreme Storm

While the NFIP was established in 1958, interest in such a program stretches back much further.

PropertyCasualty360 pays Craig Poulton, owner of Poulton Associates LLC, a debt of gratitude for sharing the archival insurance trade publications that were used for the background of this report.

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More than 32% of the flood market is written by 77 private companies, Triple-I reports.

In 2016, 18 private insurers accounted for only 12.6% of the market. They accounted for less than $1 billion in direct written premium, reported by the Insurance Information Institute. However, in 2022, more than 75 private carriers were responsible for $1.31 in direct written flood insurance premium.

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According to the GAO (Government Accountability Office) since 2005, FEMA has borrowed some $36.5 billion to cover NFIP losses. In order to repay it, they would have to use the revenue from current and future policyholders. The debt is largely due to discounted premiums that FEMA has been statutorily required to provide. This in turn has the effect of charging future and current policyholders for previously incurred losses. 

This near lapse in coverage would have jeopardized as many as 1,300 real estate closings every day in the event of a government shutdown of the NFIP program.

"If Congress is unable to reach an agreement on longer-term government funding before the Nov. 17, private flood insurers will no doubt see an increase in business," said Craig Poulton, of Poulton Associates, which offers flood and catastrophe insurance.

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Claim funding and property sales could be in jeopardy. Having a private flood insurance alternative is vital.


“We anticipate that this will be the case if we do not avoid a government shutdown in the near term,” said Craig Poulton, Poulton Associates CEO. “In this event the private flood insurance market will likely facilitate at least 80% of the newly originated flood insurance demand exhibited during the shutdown.”

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As was brought to light once again by the nightmare that was Hurricane Ian, America’s flood insurance system is in trouble. The remedy to our collective and multifaceted problem will not be found in relying on big government “fixes” like the National Flood Insurance Program (NFIP). The solution will be found in focusing on the curative power of consumer choice to efficiently determine allocation of resources to produce fair, durable, cost-effective and socially responsible flood insurance outcomes.  Read the full Article by Craig Poulton, CEO of Poulton Associates and Owner of, at The Hill.


Review the events that shaped flood insurance in 2022 and where the sector is headed in the new year.

Article by Craig Poulton, CEO of Poulton Associates and owner of, on

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Craig Poulton, CEO of Poulton Associates, LLC, owner of, told that the new rules will be beneficial for hundreds of thousands of flood-exposed homeowners.


However, he noted it was unfortunate that the FHA denied and delayed borrowers’ ability to buy flood insurance from the same companies they were required to use for home insurance.

Insurance Agent

This will “finally allow FHA insured borrowers freedom of choice”, according to Craig Poulton, CEO of Poulton Associates and owner of CATCoverage, but the timing could be better. America faces a mortgage slump, with application pace at its lowest since 1997 (as of Oct 2022).

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A growing number of critics are questioning the system currently in place when it comes to FEMA flood map zones.


Craig Poulton, CEO of Poulton Associates and owner of was interviewed by Insurance Journal to give his opinion.


The Federal Housing Administration (FHA) has announced regulations to allow mortgagors the option to purchase private flood insurance on FHA-insured mortgages for properties located in Special Flood Hazard Areas.


“Home buyers across the nation will benefit from this long-awaited rule," says Craig Poulton, CEO of Poulton Associates, featured in this Insurance Journal article.

“Hurricane Ian demonstrates that private market constructs need to be brought to bear to a far greater extent in responding to the peril of flood across the United States,” said Craig Poulton, CEO of Poulton Associates which administers the Natural Catastrophe Insurance Program, the private insurance alternative to the NFIP.

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A panel of industry experts, including Craig Poulton, CEO of Poulton Associates and owner of, spoke at the 2022 WSIA Annual Marketplace in San Diego discussing rising frequency of flooding, underwriting and pricing, changing distribution, communication and an overview of FEMA’s Risk Rating 2.0.

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Many homeowners are surprised to find that floods aren’t included in home insurance. Here’s what you need to know

“The biggest advantage to individuals is they have a choice when it comes to flood insurance,” says Craig Poulton, CEO of property and casualty insurance provider Poulton Associates, and owner of “They can choose better coverage and lower prices that would not be available in the absence of a private market.”

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As climate change events increase, insurance companies have no choice but to shift their underwriting and investment focus.

Craig Poulton, CEO, Poulton Associates, LLC, owner of, which administers the Natural Catastrophe Insurance Program, believes that significant strides will be made in technologies that will allow greater predictability as to geographic areas that will be impacted by climate change.

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T­he NFIP was established with three main objectives...

Bethan Moorcraft, of Insurance Business, sat down with Craig Poulton, CEO of Poulton Associates and owner of, to discuss the history of the NFIP and why change is sorely needed.

Poulton Associates and Guidewire HazardHub illustrate NFIP's failure to raise rates.

New analysis of data from FEMA’s NFIP and the Department of Homeland Security shines a light on the program’s rate inadequacies and the consequences artificially low rates will have on consumers, taxpayers and the environment. Analysis by Poulton Associates, conducted with the assistance of Guidewire HazardHub, illustrates the NFIP’s failure to raise rates and quantifies just how far rates are from where they should be relative to NFIP historical claims costs.

Statue of Liberty

The NFIP’s failure to correlate risk with rate and to maximize geographic spread of risk has resulted in close to $40 billion in unfunded losses, which have been paid by taxpayers.

The NFIP is making some changes. The program has introduced a new pricing methodology called Risk Rating 2.0, which is aimed at reflecting an individual property’s specific flood risk, as opposed to using general risk categories based on location and property type


Not all flood insurance coverage is created equal. This was abundantly apparent when Craig Poulton addressed the upgraded risk assessment provided by the National Flood Insurance Program (NFIP) entitled Risk Rating 2.0 - Equity in Action.

Poulton was quick to point out that despite the recent risk rating upgrade, the Federal answer for flood coverage has some significant breaches in its flood insurance paradigm.

There are many ways to approach parametric natural catastrophe coverage, but "only a few of them have been tried thus far by the insurance industry," said Craig Poulton, CEO, Poulton Associates.


It is important for agents to understand some of the more important changes the NFIP has made with the implementation of Risk Rating 2.0 and their impact.

Most of the old rules no longer apply and flood insurance agents need to familiarize themselves with an entirely new rating methodology.

Flood in settlements

“Whenever Congress would say to raise rates, the bar for community discounts would be lowered. Around 70% of homes in the program are within community discount rating sites,” Craig Poulton, CEO of Poulton Associates, says. “That’s what we saw, rates should have been going up but premium was going down. The data doesn’t lie. The community discounts got more generous and that effectively defeated any rate increase.”

Uncaptive Agency: The Future of Insurance

Podcast Episode 32

CEO Craig Poulton shares how the flood insurance business has spring-boarded his MGA to become one of Inc 5000’s Fastest Growing Companies in America. He shares a few secrets to his success with Tony Caldwell on his latest podcast episode, Tune in to Uncaptive Agency: The Future of Insurance | Episode 32: People, Capital and Moving Forward with Craig Poulton.


Congress must let the NFIP raise rates to actuarially sound levels and serve as the flood insurer of last resort.

Operating as what is essentially a nationalized flood insurance system, the NFIP has cost taxpayers about $1 billion per year since its inception. 

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A look at flood devastation and attempts to repair a broken federal flood insurance system

Six consecutive above-normal storm seasons prove that it would be wise for agents to prepare for the worse. Being able to offer private flood insurance to clients' as an option may better serve their needs when compared to the NFIP.


Risk Rating 2.0 is Here, and Coastal Lawmakers are Concerned

Lawmakers representing coastal regions, and many consumers, worry about the unintended consequences FEMA's flood insurance overhaul will create. Craig Poulton offers possible suggestions to help prevent the possible 'Death Spiral' that FEMA may soon find itself in.


Analysis of NFIP Data Demonstrates Need for More Equitable Rates. 

For decades, the US government's flood insurance program has had concerning inequities. Risk Rating 2.0 includes many of the same issues.

Switching Roofs

In the wake of Ida's destruction and high rebuilding cost, the price of flood insurance may rise.

The estimated cost in claims from the damage of Hurricane Ida is  ranging between $15 billion to $30 billion. However, this figure could grow due to the cost of lumber and labor which have risen substantially through the pandemic.

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Analysis of NFIP Data Demonstrates Need for More Equitable Rates. 

Using the most recent data available, this report details the findings of a comprehensive study conducted by the scientists at HazardHub, Inc., who specialize in translating geospatial data and providing property hazard risk databases. The basic question considered by the report is: Who benefits the most from the federal flood insurance program?


Data from the federal government reveals that many FHA-insured homeowners fail to meet mandatory flood insurance requirements.

Private flood insurance often provides better coverage compared to the National Flood Insurance Program (NFIP). It can usually save them money as well. This is especially true for those with lower incomes.


"That's insane… and there's never been a viable reason given for it"

Catastrophe modeling firm KCC reported that insured losses to onshore properties from Hurricane Zeta will be well over $4 billion. Not included in this large sum is NFIP losses, losses to offshore assets, or any possible impacts due to COVID-19, according to KCC.

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Natural disasters are an ongoing threat. Mortgage brokers and their clients need to be prepared at all times.

According to the latest FEMA data (as of April, 2020), earthquake losses alone, not including flood, in the U.S. total roughly $6.1 billion dollars annually.

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New analysis of participants of the NFIP demonstrates a gap in the benefits of high-income and low-income groups.

During a panel discussion, CEO Craig Poulton presented a report, “Beneath the Surface: Analysis of NFIP Data Demonstrates the Need for More Equitable Rates." This was at a Congressional Briefing on Capitol Hill.


Craig Poulton, Poulton Associate's CEO on CNBC

As Hurricane Michael moves from Florida to Geogia, Craig Poulton, CEO of Poulton Associates CEO, discusses the potential insured and uninsured losses in the wake of the storm.

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How the NFIP could Reform and Properly Serve it's Purposes

Craig Poulton shares his 5 recommended steps, starting with meaningful NFIP rate increases, on how to improve Flood Insurance.


Tax Payers have lost more than $40 billion dollars

Nationalizing the US flood insurance industry has been catastrophic. Craig Poulton shares more on the issue in this article featured on Property


NFIP reform should create fair competition for private markets.

Congress has begun to turn some of it's focus and efforts towards reforming the National Flood Insurance Program. California had already been contemplating a departure from the NFIP.


Craig Poulton speaks on the Momentum of Private Flood Insurance

Carriers who offer private flood insurance may start feeling shoved into the market. this could bring new opportunities for claims adjusters and possibly create a more efficient claims process.


Discussing the Rate Structure of the National Flood Insurance Program

Craig Poulton, Poulton Associates CEO and the founder of the Natural Catastrophe Insurance Program, provides valuable insight to reforming the National Flood Insurance Program.


NCIP's Craig Poulton

CEO of Poulton Associates, Craig Poulton, discusses FEMA's move to issue cat bond and advises on widening the availability of private flood coverage.

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