WASHINGTON, D.C., Aug. 7, 2008—The following is a statement by Bob Rusbuldt, President & CEO of the Independent Insurance Agents & Brokers of America (the Big "I") on the recent release of the Hartford natural disaster proposal:
“The Big ‘I’ applauds the Hartford for their release last week of a plan to address the increasing threat to insurance consumers posed by natural disasters. Their proposal, the Coastal Catastrophe Partnership, is consistent with principles that the Big ‘I’ has long supported, including making a federal reinsurance backstop available to private carriers, market based reforms, increased mitigation and building code standards and greater participation in the National Flood Insurance Program. We welcome the Hartford's plan as a major positive development in the effort to solve the natural disaster insurance crisis. We look forward to working with the Hartford, other insurance companies, consumer groups and Congress as details of this plan and others emerge.”
---Bob Rusbuldt, President & CEO, Independent Insurance Agents & Brokers of America
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.