Continuing a road show for his concept of a national catastrophe insurance system, California Insurance Commissioner John Garamendi talked up the program at an industry conference where a day earlier three executives had rejected the idea.
Edmund Kelly, chief executive officer of Boston-based Liberty Mutual one of those who spoke at the 17th Annual Property-Casualty Industry Conference against any catastrophe plan involving a federal backstop component said Friday that Mr. Garamendi's efforts were not totally misplaced.[See related story]
"While I would disagree with where Commissioner Garamendi's going, he did organize a forum [bringing] the right people together. That is a useful start."
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