Insurance Commissioner To Consult Florida Senators And Representatives In Washington
TALLAHASSEE (JULY 12, 2006) – Florida Insurance Commissioner Kevin McCarty traveled to Washington D.C. today to consult with Sens. Bill Nelson and Mel Martinez and with two of Florida's U.S. Representatives on a variety of issues important to the Florida insurance market. Many issues presently before the U.S. Congress would have a significant impact on both state and national insurance markets.
In addition to meetings with Florida's U.S. senators, McCarty has scheduled visits with Reps. Ileana Ros-Lehtinen and Ginny Brown-Waite, along with legislative staff members from each office. Issues and legislation on the agenda to be discussed included:
- S. 3114, which would create a bipartisan Commission on Catastrophic Disaster Risk, sponsored by Sen. Nelson. The commission would examine ways to respond to catastrophic losses and mega-catastrophes on the national level, in addition to other measures that would make insurance more affordable and accessible.
- The goal of providing a national backstop for mega-catastrophes over $50 billion is similar to the federal Terrorism Risk Insurance Act and to create a national catastrophe plan. Currently there are several bills under consideration in Congress including HR 4366 and HR 846 which are sponsored by Rep. Brown-Waite and would address these goals.
- An update on Citizens Property Insurance Corporation's actuarial rate filing for Monroe County.
- Legislative attempts to streamline and transfer portions of insurance regulation currently under the purview of the states to the federal level.
"We have received unprecedented assistance and cooperation from our entire congressional delegation on insurance issues that affect all Floridians," said McCarty. "They keenly understand the tough challenges we are facing as a state, and my office will continue to keep them informed and assist in any way we can."
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