Federal Disaster Legislation Could Have Unintended Consequences

It is certainly no surprise that in the aftermath of Hurricane Isabel, there is a renewed effort by some in the industry to establish a federal backstop for insured losses caused by natural disasters.

Thankfully, Hurricane Isabel, while very destructive, does not appear to threaten the insurance industrys financial base. The early reports are that the losses are manageable and will not cause any serious fallout in the property insurance marketplace.

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