Coastal insurance solutions could be worse than problem

Thursday, May 3rd, 2007 Property

The changes in the coastal property insurance market that have caused rising rates and cancellations for property owners present a public policy challenge because many measures put forward as “solutions” would actually make matters worse, according to a recent article in The Standard, a leading insurance industry trade publication. The article, authored by Paul Tetrault, Northeast state affairs manager for the National Association of Mutual Insurance Companies (NAMIC), describes the factors that have led to rate increases, mitigation requirements, and nonrenewals, and warns against the adoption of quick-fixes that could ultimately have an effect that is the opposite of what is intended.

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http://www.ledgerdelaware.com/articles/2007/05/02/news/news.09.txt

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