The pessimists would call it irony; the optimists, forward-thinking. Whatever the label, the fact that the Task Force on Long-Term Solutions for Florida's Hurricane Insurance Market held its inaugural meeting on Aug. 24, 2005, the day Tropical Storm Katrina (later to become Hurricane Katrina) developed off Florida's east coast, most certainly makes it memorable.
The Florida Legislature created the task force last year, naming Office of Insurance Regulation (OIR) Commissioner Kevin McCarty as chairman. McCarty and his 12 fellow panelists were charged with gathering information and making recommendations to the legislative and executive branches to “ensure that there remains sufficient capacity in the private and public sectors to ensure that all Floridians can obtain appropriate insurance coverage for hurricane losses.”
From August 2005 through February 2006, the task force met eight times throughout the state to listen to experts in the fields of insurance, reinsurance, construction, and insurance regulation, and to receive public testimony.
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