Reinsurers including the Federal Emergency Management Agency, which offers "Write Your Own" policies under the National Flood Insurance Program, are likely to see hefty losses from Hurricane Sandy and its remnants, according to an SNL Financial report. Property/casualty insurers last year posted about $342.8 million of direct premiums in New York, New Jersey and Connecticut, according to the report. "But the ultimate losses borne by reinsurers will depend, of course, on the reinsurance programs in place at the underwriters that wrote policies within the region affected by Sandy," SNL's Thomas Mason says.