Two major agent broker trade groups and two leading property-casualty insurance carriers have banded together to ask Congress to promote a plan to spread coastal windstorm risks across state borders.
In statements released today, the Council of Insurance Agents & Brokers, the Independent Insurance Agents & Brokers of America, and insurers The Travelers Companies and Nationwide Insurance Companies, urged Congress to enact a plan to address availability and affordability insurance crisis for coastal wind coverage.
They said the plan would spread the risk among all affected coastal property owners from Texas to Maine.
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