Seen in the Biloxi Sun-Herald:
Chaney said Friday he is working with state legislators, who convened their 2008 session Tuesday, and state wind-pool officials to lower wind-pool rates that increased 90 percent for homeowners and 162 percent for businesses after Hurricane Katrina. Chaney said it is too early to discuss details, but he has met with the Coast legislative delegation and is talking to other lawmakers about insurance needs in South Mississippi.
Chaney said his top priority is to stabilize the property and casualty market so insurance is available and affordable. Working to improve the wind pool, insurer of last resort for South Mississippi, also will help stabilize the insurance market statewide, he said.
The article also mentions that Chaney is supporting the concept of a national cat pool.
As long as the Commissioner is looking at realistic solutions…or improvements, at least…rather than attempting reform by fiat, I wish him the best.
However, I would also suggest that taking a close look at what’s already in place…perhaps even seeking outside opinion… should be a fundamental component of evaluating potential reforms.