Allstate Insurance Company today joined with former FEMA headJames Witt to launch a lobbying effort to win federal support for aprogram that would allow insurance companies to createtax-advantaged catastrophe reserve funds to deal with large naturaldisasters.
Allstate's involvement was confirmed by the company after Mr.Witt's lobbying firm registered with Congress last Tuesday to lobbyfor creation of the CAT reserve funds. Mike Trevino, an Allstatespokesman, said Mr. Witt and his partner, Barry Scanlon, had beenretained in August, before Hurricane Katrina hit. Therefore therewas no conflict, even though Mr. Witt also has been retained as aconsultant on catastrophe issues by the state of Louisiana.
Mr. Witt was scheduled to speak at 10 a.m. at a New York newsconference to unveil the initiative.
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