The impact of Hurricane Sandy and its remnants shows that the U.S. needs to create a catastrophe fund to handle losses from major disasters, writes Jeff Grady, CEO of the Florida Association of Insurance Agents. Such a backstop for private carriers would promote a more stable and competitive market and reduce insurers' insolvency risk, Grady writes. "A national cat fund is long overdue, and Congress should act now to put it into place," he writes.