NEW YORK--The National Conference of Insurance Legislators Subcommittee on Natural Disasters voted down an amended resolution today that would have supported the establishment of state catastrophe funds that would be eligible to receive federal funds.
The vote today was split among the eight present subcommittee members attending the meeting here and so it did not receive the majority vote necessary to proceed out of the subcommittee.
Florida State Sen. Steven Geller, D-Hallandale Beach, co-chair of the subcommittee, proposed the resolution, which contained changes to a previous resolution that was not voted on at NCOIL's last meeting in Washington, D.C. due to concerns expressed at the time by insurance associations and others.
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