The Southern Governors' Association said it will meet Sunday with insurance executives to discuss ways that insurers can work with states to create stability for residential and commercial insurance markets.
A statement from the SGA said that with the 2007 hurricane season in full swing, volatile weather events and other factors are challenging governors.
State leaders face issues of insurance availability and affordability while weighing the effects of policy decisions on long-term market health and stability, SGA said.
Mississippi Gov. Haley Barbour on Sunday will host a panel of insurance industry executives when SGA meets at the Beau Rivage Resort & Casino in Biloxi, Miss.
Announced as the goal of the session is an exploration of how governors and industry might better work together.
The group is due to hear a Travelers' proposal to establish a Coastal Hurricane Zone from Texas to Maine as a way of stabilizing availability and affordability of insurance products in higher-risk coastal markets. Addressing that topic will be Brian W. MacLean, Travelers executive vice president and chief operating officer.
William R. Berkley, chairman and chief executive officer of W.R. Berkley Corp., will discuss insurance market stability from the perspective of a commercial insurer.
Alex Soto, president, Independent Insurance Agents and Brokers of America, is to talk on insurance market stability from the perspective of independent agents.
Paula Rosput Reynolds, president and CEO, Safeco Corp., will give the perspective of a property and casualty insurer concerning insurance market stability.
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