New York--New York Insurance Superintendent Howard Mills said today it will take another major natural disaster before Congress sits down and seriously discusses forming a national catastrophe program.
Mr. Mills' comments came during the 14th Annual Professional Insurance Agents of New York State's Metropolitan Regional Awareness Program and included news of his department's new plans for industry oversight.
In remarks after his speech Mr. Mills said, "Chances are not good right now for passage of a national catastrophe plan...It will take another cycle of natural catastrophes before people realize some change is needed."
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