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NCOIL Nixes U.S.-Backed State Catastrophe Funds

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 fund

By Phil Gusman | Updated on July 10, 2008

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.

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