Insurers' organizations and consumer groups are gearing up to fight a National Association of Insurance Commissioners resolution endorsing a proposed new federal role for the catastrophe insurance marketplace.
NAIC's Property Casualty Committee approved a resolution by conference call Tuesday backing the efforts of Florida and Louisiana senators to create a commission to look at ways of shoring up the insurance marketplace in the event of a repeat of the 2005 hurricane season and its record losses.
The measure will now go to the full NAIC body for final approval at its quarterly meeting later this month where it could meet opposition from not only industry and consumer representatives but commissioners wary about endorsing a new role for government in the property insurance marketplace.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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
© 2025 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.
