Insurance industry representatives and some regulators have expressed concern that previously discarded ideas such as an all-perils policy and checklist have made their way back into the National Association of Insurance Commissioners' proposed catastrophe program.
Speaking at the Catastrophe Insurance Working Group session at the spring quarterly meeting, some felt that returning to consider those points that were previously discarded wasted the work that was done over the past year on the project.
“Just to keep rehashing this over and over again is somewhat ridiculous,” said one distressed Eastern state regulator, who asked for anonymity.
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