Urges the commissioner of insurance to create the Hurricane Mitigation Commission to study and report findings and recommendations relative to the handling of property insurance claims in the wake of hurricanes and the necessity of a catastrophe savings account.
Provides for a study of the feasibility of establishing a Catastrophe Reinsurance Program which includes the issuance of catastrophe bonds to provide an alternative method for insurance companies to secure reinsurance to cover property damage and casualty losses
Provides for a study of the feasibility of establishing a Catastrophe Reinsurance Program which includes the issuance of catastrophe bonds to provide an alternative method for insurance companies to secure reinsurance to cover property damage and casualty losses