Cat Management Requires Holistic Approach -- TowerGroup
The federal government, carriers and consumers need to work together to control losses from catastrophes like those that hit the US last year, with estimated losses at $56.8 billion, says TowerGroup's Karen Pauli. The upcoming issue of Windows in Financial Services reports on how Microsoft partner BlueBook International can identify underinsured properties which put homeowners and sometimes insurance carriers at risk -- if the homeowner can persuade a jury that the insurance sales person said the coverage was sufficient. On Pauli's list for improvement -- the National Flood Insurance Plan, better education for consumers, better controls on development in catastrophe-prone locations. Uh oh, does that mean counteracting the real estate agency with its huge campaign contributions?
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