Florida commissioner explains why a cat plan is needed

09/24/2008 | Ledger (Lakeland, Fla.), The

In this interview, Florida Insurance Commissioner Kevin McCarty talks about the line between excessive profits and reserves for future damages, market competition and discriminatory practices in the industry. He also explains his support for a national catastrophe fund, saying that no state is prepared for an event of Biblical proportions and that individuals and governments need to do what they can to mitigate risks, "but the back end is the part we really need to fix, which is our national catastrophe fund."

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Ledger (Lakeland, Fla.), The

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