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Catastrophe Insurance (C) Working Group

2022 Membership

CATASTROPHE RESOURCE CENTER

2023 Proposed 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, including mitigation efforts being used in states and investigating loss trends in homeowners markets, with the goal to provide rate stability in the marketplace and protect consumers. 
  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. Draft a Catastrophe Modeling Primer that addresses the basic concepts of catastrophe modeling.
  6. Investigate and recommend ways the NAIC can assist states in responding to disasters by continuing to build the NAIC’s Catastrophe Resource Center for state insurance regulators to better prepare for disasters. 
  7. Continue to monitor the growth of the private flood insurance market and assess the actions taken by individual states to facilitate growth. Update the Considerations for Private Flood Insurance appendix to include new ways states are growing the private flood insurance market. 
  8. Study, in coordination with other NAIC task forces and working groups, earthquake, severe convective storms and wildfire matters of concern to state insurance regulators.

2022 Adopted 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. Consider revisions to the Catastrophe Computer Modeling Handbook.
  6. Investigate and recommend ways the NAIC can assist states in responding to disasters by continuing to build the NAIC’s Catastrophe Resource Center for state insurance regulators to better prepare for disasters.
  7. Continue to monitor the growth of the private flood insurance market and assess the actions taken by individual states to facilitate growth. Update the Considerations for Private Flood Insurance appendix to include new ways states are growing 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.

NAIC Support Staff: Sara Robben

Joint Meeting of the Catastrophe Insurance (C) Working Group and NAIC/Federal Emergency Management Agency (FEMA) (C) Advisory Group

2022 Fall National Meeting
Joint Meeting of the Catastrophe Insurance (C) Working Group and NAIC/Federal Emergency Management Agency (FEMA) (C) Advisory Group
Monday, December 12, 2022
3:30 PM - 5:00 PM ET

Ybor Ballroom IV & V - Level 2 - JW Marriott

Related NAIC Publications

Contacts

Media Inquiries
(816) 783-8909
news@naic.org


Sara Robben
Regulatory Research Specialist
Phone: (816) 783-8230

Please see the current Committee List for a complete list of committee members.