Financial Services Industry
Industry: Email Alert RSS FeedCarriers split on hurricane risk cap.(insurers)
National Underwriter Property & Casualty-Risk & Benefits Management, July, 1995 by Adams, Michael H.
WEST PALM BEACH, Fla.--The Florida Academic Task Force on Hurricane Insurance meeting here last week failed to reach consensus among the representatives of large and small property insurance companies on a recommendation for a private-sector liability cap on losses from a future Atlantic basin hurricane.
The task force, which must make its final recommendations to Florida Gov. Lawton Chiles and the state legislature by Aug. 15, was stymied when consensus could not be reached among insurance company representatives over a staff recommendation for an $8 billion private insurance liability cap for 1995. "I think we have heard a lot of what will not work," said Charles Reed, chancellor of the Florida university system and task force chairman, adjourning a day-long...
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