Washington–An organization campaigning for a federal catastrophe fund is firing back at insurance trade groups that have attacked the concept arguing that the private sector remains capable of covering such risks.
David A. Smith, director of ProtectingAmerica.org, singled out the American Insurance Association in particular, calling its criticisms “shortsighted and misinformed.”
The state and federal catastrophe fund proposal would be established under federal legislation, known as HR 4366, introduced in the House by Rep. Ginny Browne-Waite, R-Fla., and Rep. Clay Shaw, R- Fla.
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