SmarterSafer – Americans for Smart Natural Catastrophe Policy – submitted a letter to the Senate Banking Committee Chair Sherrod Brown and Ranking Member Tim Scott commenting on the Senate Banking Committee’s recent hearing focused on property and casualty insurance markets and policyholders. ConservAmerica is a member of the SmarterSafer coalition.
In a recent hearing, Members suggested that a federal reinsurance program is needed to mitigate natural disaster risk. Per the letter,
“We wholeheartedly champion the idea of public/private partnerships and private market
participation as means to effectively manage the risks associated with natural disasters while
ensuring the financial stability of communities and protecting the environment. Private
reinsurance plays a crucial role in this equation. It offers an additional layer of financial support
that can be instrumental in helping communities recover from catastrophic events without
resorting to overwhelming public funds.”
SmarterSafer is a national coalition made up of a diverse chorus of voices who champion a united front for environmentally responsible and fiscally sound approaches to natural catastrophe mitigation and the promotion of public safety.