Florida’s Insurance Commissioner Testifies To Congress On Need For National Catastrophe Plan
TALLAHASSEE – Florida's Insurance Commissioner Kevin McCarty today testified to a congressional committee in Washington on the need for a national plan to respond to catastrophic events. McCarty, who testified on behalf of the National Association of Insurance Commissioners (NAIC), has been a vocal proponent of such a plan both as the state insurance commissioner and as chairman of both the NAIC's Catastrophe Insurance Working Group and the Property and Casualty Insurance Committee.
Testifying before the House Committee on Financial Service's Subcommittee on Housing and Community Opportunity, McCarty said, "I do not think we can truly prepare the housing market for a mega-catastrophe without a comprehensive national strategy. Insurance is only one of the critical components needed to truly provide a level of economic security in the face of catastrophic natural disasters for all Americans."