A Louisiana state legislator detailed the devastation thatHurricane Katrina wrought on her state and offered a suggestionabout how to ensure that carriers continue to write businessthere.
The legislator, Shirley Bowler, R-Harahan-La., says that she hasconcerns that state catastrophe funds and private solutions may notbe enough to encourage insurers to write business in her area and,consequently, an optional federal charter could be a betteralternative.
The reason, she explains, is an optional federal charter couldmake it possible for companies to more easily write business inmany states, diversify their risks, and thus, be more willing towrite business in states like Louisiana.
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