In a survey of the top dogs attending last month'sProperty-Casualty Insurance Joint Industry Forum, all but three ofthe 100 responding said Congress would not adopt a NationalCatastrophe Insurance Plan this year. “I voted three times,”quipped Ed Liddy, chairman, president and CEO of Allstate, which isaggressively pushing an ambitious catastrophe initiative.

Allstate's proposal would establish a federal catastrophereinsurance fund to back up state facilities. It would beprospectively funded by private carriers paying actuarially soundrates, insists Mr. Liddy.

While his peers on a panel of insurer big shots at the forummumbled kind words about Allstate's intentions, Mr. Liddy knows hehas a steep uphill climb ahead, and that most insurers are notbehind him. The debate promises to be nasty if the cat fight thatbroke out last month is any indication.

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
NOT FOR REPRINT

© 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.