The PIA National Natural Catastrophe Working Group has written to the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL), outlining PIA’s position on natural catastrophe legislation.

The Working Group advised that while there is general agreement on some basic, common sense solutions to help markets prepare for and recover from, natural catastrophes, PIA also sees an absence of, or insufficient appreciation for, a number of other critical aspects of reform that particularly apply to the nature, role and existing obligations of government.

In addition, PIA advised that it is critical to forge a comprehensive, public-private approach to solutions that involves all parties. “Without this, any other solely private-sector driven or imposed reforms will not work at all, or as effectively” as our customers need, the letters state.

PIA Nat-Cat Letter to NAIC (PDF)

PIA Nat-Cat Letter to NCOIL (PDF)

September 10, 2008