WASHINGTON–American policymakers need to take a more forward-thinking view when it comes to natural catastrophe risk, American Insurance Association President Marc Racicot said today.
Speaking to reporters here at the National Press Club, Mr. Racicot unveiled a series of proposals the AIA believes are necessary to better protect homeowners from natural catastrophe risk and better assist them in the aftermath of a major hurricane.
Among the measures being proposed by the AIA are stricter building codes that are strongly enforced, the inclusion of hurricane risk in land use planning, increased use of actual risk-based pricing and the use of computer modeling in the rate setting process.
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