The accuracy of an insurance industry-sponsored study by a consulting firm concluding that the cost of adding windstorm coverage to the National Flood Insurance Program is potentially astronomical has generated an intense storm of its own.

In response, the policy director for the member of Congress who introduced the idea reacted with outrage. "Wow. You really cooked the books on that one. Are there no professional standards in the actuarial industry?" asked Brian Martin, policy director for Rep. Gene Taylor, D-Miss.

He made his comment in an e-mail obtained by the National Underwriter that was directed to a lobbyist for the American Insurance Association, which commissioned the study by Towers Perrin Tillinghast.

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
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.