Washington, D.C. - As the country approaches the first anniversary of Hurricane Katrina next week, the American Insurance Association (AIA) and ProtectingAmerica.org were at odds as to how best to proceed with a national catastrophe agenda.
The AIA, which represents approximately 400 major insurance companies that provide all lines of property and casualty insurance and write more than $120 billion annually in premiums, published an agenda that contains specific steps that government officials, individuals, business owners and insurers can take to increase financial preparedness and expedite recovery from devastating natural disasters. The proposals include measures to protect people and property in harm's way; steps to improve the stability of the insurance market; incentives for individuals to take a greater role in disaster preparedness; and National Flood Insurance Program reform.
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