Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Florida Congressmen Ron Klein (D) and Tim Mahoney (D) recently introduced a bill that calls for a comprehensive catastrophe loan program for states that accrue damages from natural disasters. The legislation proposes that state-sponsored funds be transferred to private markets by way of catastrophe bonds and reinsurance contracts.

President of the American Insurance Association, Marc Racicot, commented on the legislation introduced by the Florida representatives in a release saying, “We share the sponsors’ goal of expanding capital markets and spreading catastrophic risk, but have genuine reservations about the need to add an additional layer of government involvement in the private property protection system of this country and the individual states given the private capital markets’ increasing appetite for spreading natural catastrophe risk.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.