Task Force on Disaster Insurance Coverage
ABA approves Task Force Recommendations
Official copies of the Hurricane Recommendations (107 A-G) as adopted on February 16, 2009
107A Recommends federal, state and territorial governments to enact legislation with appropriate funding that would eliminate any prohibitions or restrictions on participants in the private insurance and reinsurance markets from making available broadened insurance protection for property damage arising from storms, including damage from wind, wind-driven rain and flood caused by storm surge, but excluding damage arising from other types of floods. - PDF
107B Urges Congress to address the consequences of natural catastrophes by strengthening the financial infrastructure and developing programs that increase availability of affordable insurance in areas highly-exposed to catastrophes, while not competing with the private market. - PDF
107C Urges the federal government to take steps to encourage capital markets to finance catastrophic risks by: a) undertaking a study through the U.S. Treasury Department to determine what changes in federal laws and regulations would reduce barriers to the issuance of catastrophe (CAT)-linked securities in the United States; and b) enacting legislation as needed to encourage the issuance of catastrophe (CAT)-linked securities. - PDF
107D Urges the federal government to address the liquidity needs of individuals and businesses in the aftermath of future natural catastrophes to reduce some of the losses by residents affected by the catastrophes. - PDF
107E Urges state, territorial and local governments to use specific tools to mitigate losses from future mega-catastrophes to ensure the ongoing availability and affordability of insurance for natural disasters. - PDF
107F Urges the federal government to use specific tools to mitigate losses from future mega-catastrophes by influencing building codes and land-use in certain situations. - PDF
107G Recommends national, state and territorial governments to adopt standards for handling residential and small business insurance claims for property damages resulting from hurricanes or storms. - PDF
Links & Resources
protectingamerica.org Preparing for and Protecting America from Catastrophe
Federal Legislation
S.B. 292 Commission on Catastrophe Disaster Risk and Insurance Act of 2007 - PDF
S.B. 298 Homeowners Protection Act of 2007 - PDF
H.R. 3121 Flood Insurance Reform and Modernization Act of 2007 - PDF
Materials Available for Download
From the Office of Inspector General, U.S. Homeland Security: Hurricane Katrina: Wind vs Flood Issues - PDF
After the Storm: Courts Grapple with the Insurance Coverage Issues Resulting from Hurricane Katrina - PDF
Northrop Grumman Corp v. Factory Mutual Ins Co - PDF
Pattern of Greed 2007 - PDF
The Natural Catastrophe Casino - PDF
Katrina memo - Word
Federal Disaster Insurance - Word
Katrina breach - PDF
Commission on Catastrophic Disaster Risk and Insurance Act of 2007 - Word
Developments Since Hurricane Katrina and Challenges Moving Forward - PowerPoint
Commercial Wind Insurance in the Gulf States - PDF
RAND Study Finds Wind Insurance Costly and Scarce on Gulf of Mexico Coast - PDF
National Hurricane Conference - PowerPoint
The Financial Services Roundtable Blue Ribbon Commission on Mega-Catastrophes - PDF
For enrollment in a committee of the Tort Trial & Insurance Practice Section. NOTE: If you are already a Tort Trial & Insurance Practice Section member, you may join up to three (3) committees at no additional cost. However, if you are not a Section member, you must join the Tort Trial & Insurance Practice Section first. If you have any questions regarding participation in TIPS Committees contact our Committees Administrator Sonia Schroeder or call 312/988-6229.
TIPS LEGAL DISCLAIMER --
The materials at this site, including the links to other Web sites, have been provided by the Tort Trial & Insurance Practice Section of the American Bar Association for informational purposes only and do not constitute legal advice, the practice of law, or the endorsement of the content provided by any linked site. Use of this site does not create or constitute, in any way, an attorney-client relationship between the ABA, TIPS, their entities, or any individual members and the viewer of this site. Neither does the ABA, TIPS, their entities, nor any of their members assume any responsibility for any misinterpretation or misapplication of the information contained on this site by the viewer, or of the content of any Web sites linked to this site. Points of view or opinions at this site do not necessarily represent the official policies or positions of the ABA, TIPS, or any of its entities or members. Users of this site should not act upon any information received without seeking the advice of professional legal counselLast Updated on Friday, February 27, 2009 10:28 AM