Insurers Did Not Seek Fed Assistance in Meeting With Bush
Monday, September 24th, 2001 Catastrophe Legislation & Regulation PropertyInsurance groups assured President George W. Bush last Friday that that the insurance industry will pay all claims arising out of the Sept. 11 terrorist disaster, and the industry did not ask for any federal government assistance, an industry representative said. Julie Rochman, senior vice president of public affairs for the Washington-based American Insurance Association, said the purpose of the White House meeting, which took place on Sept. 21, was to let the administration know that insurance companies will pay the claims without exception. During the meeting, Ms. Rochman said, administration officials brought up the fact that a reinsurance pool exists in Great Britain to help pay for claims arising out of incidents related to terrorism and war.
