State regulators have mixed reaction to multistate catastrophic fund

01/21/2007 | PropertyCasualty360

State insurance commissioners are taking a wait-and-see approach to a proposed multistate catastrophic fund. The fund did not receive unanimous support at a recent National Association of Insurance Commissioners meeting in Miami. More details will be worked out at a meeting next month in Atlanta. The multistate fund concept, which is part of a plan for a national program to support insurers against mega-catastrophe losses, would eventually need approval by state lawmakers.

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