The top insurance regulators from California, New York, Illinois and Florida met in San Francisco today to map a proposal for a federal insurance program for manmade and natural catastrophes.
Details were few as they commenced talks, but California Insurance Commissioner John Garamend said concepts that the four have been working on are for a national program that involves sharing the risk among states and employing state and federal insurance pools.
"Stand by. Tomorrow we'll have an answer to your questions," Mr. Garamendi told a press conference in San Francisco that was made available to national press via telephone.
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