Government should play some role in mega-catastrophe risk, group says

04/12/2007 | Insurance Journal

Insurers say the private insurance market is better suited than the federal government to handle natural disasters and coastal insurance issues. However, the Property Casualty Insurers Association believes the federal government can play a role in financing of mega-catastrophe risk. "Government, consumers and insurers must work together to put in place viable solutions to reduce losses from future catastrophes and speed relief to those who need it after the next natural disaster hits," PCI Vice President Ben McKay said.

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