State lawmakers have reacted favorably to a proposed public-private approach to cover natural catastrophe risks too large for the private market to handle by itself.
California Insurance Commissioner John Garamendi made the annual meeting in San Diego of the National Conference of Insurance Legislators his first stop last Thursday in an effort to promote his plan for a private, state and federal layered approach to ensure consumers are protected in the event of a so-called mega-catastrophe.
Texas Rep. Craig Eiland, D-Galveston, attended the two-day National Catastrophe Insurance Summit earlier in the week in San Francisco and thus had a good grasp of the details proposed.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
