CONTACT: Beth Scott

                 (850) 413-2515

 

WASHINGTON D.C.  – Florida Insurance Commissioner Kevin McCarty met with members of the National Black Caucus of State Legislators and the Florida Legislative Delegation Thursday to discuss a guaranteed-issue insurance policy to cover losses from a natural disaster and a comprehensive national plan to address natural catastrophes.

 

"We opened a dialogue on how to address the problem of uninsured or under-insured people who face financial ruin when they aren't prepared for a natural disaster, as was the case for many citizens in the Gulf States during Katrina," McCarty said. "Many consumers have been paying insurance premiums for years on their most valuable asset, their homes, only to find out their losses weren't covered by their policies."

 

McCarty met with members of the Florida delegation to discuss the need to plan for natural catastrophe funding, rather than trying to pay for recovery plans after a disaster has occurred. McCarty presented a resolution from the National Association of Insurance Commissioners (NAIC) supporting a national catastrophe plan that would build upon the solid foundation provided by state regulation, maximize the role of the private market, encourage personal safety, recognize the important role of mitigation and provide a comprehensive solution to the problems presented by natural catastrophic exposure for the benefit of all Americans.

 

McCarty met with other insurance commissioners, insurance industry representatives and concerned citizens during the National Association of Insurance Commissioners (NAIC) meeting in Chicago earlier this month and at a National Catastrophe Plan Summit in California in November.

 

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