The Property Casualty Insurers Association of America todayexpressed strong reservations about an effort to create state andfederal funds to backstop property insurers' natural catastrophelosses.

In a letter to the National Association of InsuranceCommissioners, PCI senior Washington lobbyist Julie Gackenback saidsome portions of the program did not merit support while statingthat “now is the time to examine a range of proposals.”

The NAIC is currently considering a plan that would not onlycreate such state and federal funds for mega-catastrophe risk butalso mandate “all-perils” policies that would for the first time innearly 40 years include flood risk.

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