A New York State senator drafting legislation to create a state catastrophe fund hopes to have a measure ready to introduce by the beginning of next year, his spokesman said today.
Work on the bill will include continuing discussions with insurance groups, said Jim Kirkwood a spokesman for State Sen. Michael Balboni, R-Williston Park, who heads the Senate Committee on Veterans, Homeland Security & Military Affairs.
Mr. Balboni heard from insurance groups concerning his concept of creating a CAT fund during a hearing Wednesday concerning the state's preparedness for natural and manmade disasters.
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