The National Conference of Insurance Legislators Subcommittee on Natural Disasters rejected an amended resolution that would have established state catastrophe funds that would be eligible to receive federal funds.
Florida Senator Steven Geller, co-chair of the subcommittee, proposed the resolution. It contained changes to the previous resolution, which also had been rejected.
The amended resolution would have allowed states to establish catastrophe funds that would be eligible to receive federal funds under specified conditions. It also stipulated that if a natural disaster caused losses to exceed an unspecified "designated threshold," then the federal government would provide the appropriate state fund with money to cover insured losses above the threshold.
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
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
