WASHINGTON–A Louisiana congressman, who was dispossessed by Hurricane Katrina, told a national meeting of agents and brokers here that there is a need for a federal coastal catastrophe reinsurance program.
Rep. Bobby Jindal, R-La., made his comments at a luncheon for young agents at the Independent Insurance Agents & Brokers of America's National Legislative Conference and Convention.
Mr. Jindal called for a catastrophe program similar to the current Terrorism Risk Insurance Act, which provides funding for insurers when damage from terrorism events exceeds certain thresholds.
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