For those of you who don't believe you can ever have too much of a good thing, consider the fact that The Hartford just came out with a plan of its own to alleviate the fallout from another catastrophic windstorm for homeowners and insurers, as well as the federal and state governments. While Hartford's plan is intriguing, thoughtful, comprehensive and well-meaning, it is but one of many put forth by industry figures. How is the industry, the states and Uncle Sam supposed to come to a consensus amid such a cacophony?
(To read NU's full coverage about The Hartford's scheme, click here.)
As reported by our own Dan Hays (who also gave me the idea for this blog entry), The Hartford's plan would include a federal backstop for insurers, but with a new twist–the creation of an IRA-like vehicle to allow homeowners to save for disaster expenses.
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