Legislation introduced last month to create a federal emergency commission to study ways to shore up the catastrophe insurance marketplace is already generating controversy, with a top consumer advocate leading the opposition.
The bill introduced by Sens. Bill Nelson, D-Fla., and Mary Landrieu, D-La., won the praise of the co-chairs of ProtectingAmerica.org, a group formed to promote federal and state backstops for insurer catastrophe losses.
The National Association of Insurance Commissioners last week also passed a resolution by conference call supporting the legislation and urging its prompt adoption.
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