NEW ORLEANS--Spurred by the 2005 record hurricane year, Congress may finally be in the mood to create a national catastrophe insurance program, but not this year, a Washington lobbyist told claims professionals meeting here.
"There will be no solution in this Congress, but we may be ready to move forward [with federal legislation]" said Julie Gackenbach, a member of the GH Group, which represents insurance interests.
Speaking at the ACE claims conference sponsored by the National Underwriter Company, Ms. Gackenbach briefed the group on the history of congressional catastrophe proposals, which go back to the 1970s, the current measures Congress is considering, and the catastrophe plan state regulators are developing.
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