2019 Charges

The Catastrophe Insurance (C) Working Group will:

1. Monitor and recommend measures to improve the availability and affordability of insurance and reinsurance related to catastrophe perils for personal and commercial lines.
2. Evaluate potential state, regional and national programs to increase capacity for insurance and reinsurance related to catastrophe perils.
3. Monitor and assess proposals that address disaster insurance issues at the federal and state levels. Assess concentration-of-risk issues and whether a regulatory solution is needed.
4. Provide a forum for discussing issues and recommending solutions related to insuring for catastrophe risk, including terrorism, war and natural disasters.
5. Provide a forum for discussing various issues related to catastrophe modeling, and monitor issues that will result in changes to the Catastrophe Computer Modeling Handbook.
6. Investigate and recommend ways the NAIC can assist states in responding to disasters, and discuss issues surrounding loss mitigation. Update the State Disaster Response Plan, as needed, so that it provides a blueprint for action by the states to respond to catastrophic events.
7. Collect and analyze National Flood Insurance Program (NFIP) data, and create a best practices document to help facilitate the private flood insurance market.
8. Study, in coordination with other NAIC task forces and working groups, earthquake matters of concern to state insurance regulators. Consider various innovative earthquake insurance coverage options aimed at improving take-up rates.