NAMIC Issue | Natural Catastrophe Federal Backstop

Natural Catastrophe Federal Backstop [F/S]

Our Position

NAMIC opposes efforts to provide federal support for state-sponsored insurance programs, which could create incentives for more states to create risky catastrophe plans similar to what exists in Florida and increase the federal government's financial exposure. Artificial controls on the market mask the real issues of increased risk and lack of mitigation in disaster prone areas.