The National Association of Insurance Commissioners took the first steps toward creation of a multistate catastrophe fund at a recent regional meeting.
The Catastrophe Insurance Working Group agreed to evaluate modeling for such a mechanism to cover hurricane or earthquake risk on a regional basis.
Working Group Chair Kevin McCarty, who also serves as Florida insurance commissioner, said the Atlanta meeting last week resulted in "significant inroads in identifying the many facets of this complex issue, and we are proceeding forward in developing the scope and structure of a multistate fund."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
