MOBILE, Ala. - Florida Insurance Commissioner Kevin McCarty today addressed fellow regulators, congressional leaders, members of the insurance industry and the media as part of the National Association of Insurance Commissioners' (NAIC) Southeast Zone meeting in Mobile, Ala.
Although the focus of the meeting was the affordability and availability of property insurance, Commissioner McCarty's opening remarks encompassed a wide range of catastrophe issues including the National Flood Insurance Program and the California Earthquake Authority.
The hearing provided McCarty with another forum to tout the need for a comprehensive national plan, and a national catastrophe fund.
"The United States remains one of the few industrialized countries without a national catastrophe plan," remarked McCarty. "The interest expressed today by regulators from other states shows that hurricanes and other catastrophic events are not a Florida problem - they are a national problem that requires a national solution."
As the NAIC Southeast Zone Chairman, McCarty co-hosted the event with Alabama Insurance Commissioner Walter Bell. Commissioners from Arkansas, Louisiana, Mississippi, and South Carolina also were in attendance. Insurance Commissioner Jim Donelon of Louisiana thanked McCarty for his assistance and guidance following Hurricanes Rita and Katrina.
U.S. Rep. Jo Bonner (R-Ala.) and U.S. Rep Tim Mahoney (R-Fla.) and members of the industry also offered testimony to a crowd of nearly 100 at the four-hour public meeting at the Battle House Renaissance Hotel in downtown Mobile.
Interested parties can view a copy of Commissioner McCarty's opening remarks
ATTENTION: TV NEWSROOM ASSIGNMENT EDITORS
Free Satellite Feed:
Monday, Sept. 24, 2007 4:30pm-4:45pm Central
* Jim Donelon, Commissioner of Insurance.
Date: Monday, Sept. 24, 2007
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About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. Business units within the Office are organized based on regulatory expertise and include the areas of life and health, property and casualty, specialty lines and other regulated insurance entities. It is within the Office that the mission of public protection is implemented through regulatory oversight of insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market.
For more information about the Office, please visit www.floir.com
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