Members of the National Conference of Insurance Legislators were unable to bring a resolution supporting a natural catastrophe backstop system to a vote last week but will continue to debate the issue at the group's next meeting in July.
At a hearing on catastrophic insurance issues, members of NCOIL said they would delay a possible vote on the resolution to allow insurance industry officials to provide state legislators with detailed statements outlining their views on the legislation.
Florida State Sen. Steve Geller, D-Hallandale Beach, who chairs NCOIL's subcommittee on Natural Disaster Insurance Legislation, noted in bringing the matter up for debate that he has been making the effort to get a resolution passed "for about six years now," and added jokingly that "it seems to be that we'll pass it out of the subcommittee when the Messiah comes."
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