Allstate Chairman and Chief Executive Officer Edward Liddy, continuing his campaign for a federal catastrophe fund, told a group of reporters in Washington that his industry lacks the capacity to handle huge multiple natural disasters.
Mr. Liddy, whose company has done advertising on behalf of a national catastrophe fund after the company had losses of more than $3 billion from Hurricanes Katrina and Rita, made his pitch at the National Press Club in Washington.
In addition to pumping his catastrophe concept he also put in a plug for optional federal chartering of insurers.
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