Stakeholders and federal lawmakers must realize that without a solution for terrorism or natural catastrophes, the nation faces economic havoc and action is needed this year, according to a new study.
Karen Pauli, TowerGroup senior analyst for insurance, made that finding in a report for the Needham, Mass.-based consultant firm, 2007 U.S. Insurance Regulatory Agenda: D?j? vu All Over Again.
"All involved parties must keep a focused eye on the potential for severe economic dislocation in the United States if meaningful solutions to catastrophic loss from either a natural or terrorist event are not in place when an incident occurs," she wrote.
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