WASHINGTON–The nation's insurance regulators need to support catastrophe fund legislation because the country cannot afford to wait for the next disaster, a congressman warned them here.
"The crisis is today," said Rep. Tim Mahoney, D-Fla., at the recent meeting of the National Association of Insurance Commissioners.
During the discussion, which took place at the NAIC government relations leadership council session, the measure was questioned by commissioners from non-coastal states.
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