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NAMIC Hurricane Resource Center complete news archive

Federal Natural Catastrophe Policy Should Not Undermine Private Market and or Hinder Reform Efforts: NAMIC

(3/10/2010) - Legislation that would create a federal backstop for catastrophic bonds issued by state guaranty funds could ultimately expose the taxpayers to further risk and damage reform efforts at the state level, NAMIC said Wednesday.


House Financial Services Committee Looks for Natural Catastrophe Solutions

(3/9/2010) - Because the House has passed a financial services regulatory reform package, the schedule has cleared up for the Financial Services Committee to look at other legislative proposals that have been introduced over this Congress.


Mississippi: Policyholder Bill of Rights Dead; Wind Mitigation Bill to Governor

(3/9/2010) - H 563, “Mississippi Policyholder Bill of Rights,” is now dead. Senate Insurance Chair Buck Clarke declined to hear the legislation before a March 2 deadline for committees to report bills originating in the other body.


Massachusetts: NAMIC Urges Caution Regarding Coastal Property Bills

(3/9/2010) - NAMIC submitted comments to the Joint Legislative Committee on Financial Services last week urging lawmakers to fully consider the implications of various legislative proposals filed in response to developments in the state’s coastal property insurance marketplace.


Massachusetts: Legislative Panel to Hold Hearing on Coastal Property Insurance Bills

(3/2/2010) - The Joint Legislative Committee on Financial Services will hold a hearing on March 3 to consider 19 bills related and responsive to developments in the state’s coastal property insurance market.


Alabama: Hurricane Deductible ‘Buy-Back’ Bill Carried Over

(3/2/2010) - Liz Reynolds, NAMIC’s Southeast state affairs manager, attended a public hearing Wednesday scheduled by the Alabama House Insurance Committee. She was prepared to testify against HB 477, but the bill was carried over at the request of the sponsor.


Alabama: NAMIC Comments on Hurricane Deductible ‘Buy-Back’ Bill

(2/23/2010) - Liz Reynolds, NAMIC’s Southeast state affairs manager, contacted Alabama House Insurance Committee members last week to express members’ concerns with HB 477, which would require property/casualty insurance companies to offer a “buy-back” provision in policies with named storm percentage deductibles. The bill was scheduled for discussion by the committee on Feb. 17 and has now been slated for a public hearing Feb. 25.


Florida: Commission Releases Windstorm Mitigation Discounts Report

(2/2/2010) - The Florida Commission on Hurricane Loss Projection Methodology released its report yesterday to the governor, cabinet, president of the Senate, and speaker of the House.


Florida: Mitigation Report Approved

(1/26/2010) - Florida Commission on Hurricane Loss Projection Methodology met yesterday in Tallahassee to finalize its eagerly anticipated report on the current status of the state’s wind mitigation discount program. A committee made up of commission members and others met many times since the 2009 session and took testimony from all stakeholders.


Florida: Mitigation Discounts Committee Members Quibble Over Content

(1/19/2010) - The Windstorm Mitigation Committee of the Florida Commission on Hurricane Loss Projection Methodology met last Friday in Tallahassee to iron out differences among members regarding language in the report they are to submit Feb. 1 to the Legislature.


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