Two major producer 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 last week, the Council of Insurance Agents and Brokers, the Independent Insurance Agents and Brokers of America, The Travelers Companies and Nationwide Insurance Companies urged Congress to enact a plan to address the 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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