The Hartford and its chief executive officer, Ramani Ayer, said today the carrier will attempt to promote a public-private plan to deal with natural catastrophes that would include a federal backstop for insurers.
The company is calling its “national outreach effort” the Coastal Catastrophe Partnership plan, and said it is designed to deal with the “looming economic crisis posed by a major hurricane.”
Mr. Ayer said he has begun conversations with members of Congress about his multi-faceted plan, and is also having discussions with the ProtectingAmerica.org. group, backed by Allstate–which also has advanced a national catastrophe plan, but differs from The Hartford's somewhat.
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