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Big “I” Applauds Senate Banking Committee For Approval Of Natural Catastrophe Insurance Commission

Commission will recommend solutions to insurance crisis facing disaster-prone areas



The Independent Insurance Agents & Brokers of America (the Big “I”) applauds Senate Banking Committee Chairman Chris Dodd (D-CT) and the other members of the Committee for passing the Commission on Natural Catastrophe Risk Management and Insurance Act of 2007.  The legislation would establish a bipartisan commission to examine natural disaster risks and recommend possible solutions for this serious problem.

“Independent insurance agents and brokers see first hand the difficulty that consumers have in finding affordable insurance in many parts of the country due to natural disasters,” says Charles E. Symington Jr., Big “I” senior vice president for government affairs and federal relations.  “As the conduit between consumers and insurance companies, our membership has long advocated that Congress develop a national solution to this national problem.  We see the Commission created by this legislation as a critical first step towards that goal, and we are hopeful that the Commission will recommend a comprehensive solution.”

“We very much appreciate the Senators’ efforts to address this crucial national catastrophe issue,” says John Prible, Big “I” assistant vice president for federal government affairs. “We applaud the Senate Banking Committee for their action today and look forward to working with them and their colleagues to enact this common-sense legislation into law.”

Founded in 1896, the Big “I” is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life, health, employee benefit plans and retirement products. Web address: www.independentagent.com.

 


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