Reforms Needed To Prepare For Major Catastrophes, Insurance CEOs Tell Forum

Friday, January 13th, 2006 Catastrophe Property

At the 10th annual Joint Industry Forum held on Jan. 10 in New York City, insurance industry leaders told executives that unless the nation changes the way it addresses major catastrophes, the next hurricane or earthquake will wreak far more economic devastation than Hurricane Katrina. CEOs talked about the emotional toll the 2005 catastrophes took on their teams of claims adjusters, calling them heroes. They described how some adjusters had lost everything they had to the storms, but worked 24/7 to settle their neighbors’ claims.

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http://www.namic.org/topnews/060112st2.asp

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