Posted: 9/28/2010

New York: Department Proposes Catastrophe Fund, Restrictions on Wind Deductibles, Nonrenewals

The New York Insurance Department last week issued a set of problematic proposals affecting property insurers, including the creation of a state catastrophe pool and limitations on insurers’ ability to apply wind deductibles and/or cede business in certain geographic areas.

New York: Department Proposes Catastrophe Fund, Restrictions on Wind Deductibles, Nonrenewals

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