PCI calls for responsible natural catastrophe solutions

The Property Casualty Insurers Association of America (PCI) sent a letter of strong opposition today to the House Financial Services Committee in regard to H.R. 2555, the "Homeowners Insurance Defense Act", sponsored by Representative Ron Klein (D-Fla.) "H.R. 2555 would broadly shift taxpayer resources from the entire country to benefit specific catastrophe-prone areas through the proposed federally subsidized bond guarantees and the reinsurance catastrophe fund provisions,"