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Property and Casualty Insurance (C) Adopts 'Schizophrenic' Natural Catastrophe White Paper
The Property and Casualty Insurance (C) Committee voted June 15 to adopt a white paper titled Natural Catastrophe Risk: Creating a Comprehensive National Plan. This was the 15th draft of a paper that was originally conceived by the Catastrophe Insurance (C) Working Group nearly four years ago. In the end, the document that was finally approved does not create or endorse any single national plan (the paper’s subtitle notwithstanding). Instead, it is a pastiche consisting of five different and often conflicting views of natural catastrophe risk management and insurance issues.
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