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Brevik Moderates PIA of Florida Broadcast on Storms & Markets

On May 17, PIA National Executive Vice President & CEO Len Brevik moderated a televised Web broadcast of Florida's Markets: After the Storms. Produced by...
May 27, 2005

On May 17, PIA National Executive Vice President & CEO Len Brevik moderated a televised Web broadcast of Florida's Markets: After the Storms. Produced by PIA of Florida, the broadcast was a two-hour  panel discussion on the impact of last year's four Florida hurricanes on the insurance market, and prospects for the next Atlantic storm season which begins June 1.

Brevik addressed funding mechanisms for natural disasters from a national perspective, noting that proposals for the creation of catastrophe funds have been introduced in Congress in recent years. "PIA supports natural disaster legislation on a national level that partners with the states and private enterprise--but it must be a true partnership," he said. "We have two goals. First, that such legislation opens markets in underserved communities; and second, that it ensure solvency in the industry overall."

PIA of Florida Web Cast Excerpts
Florida's Markets: After the Storms
May 17, 2005

Video 1:Florida Markets Update
(Windows Media Player)
Click here for Florida Markets Update video.

Video 2:Natural Catastrophe Bills
(Windows Media Player)
Click here for Florida Markets Update video.

Brevik added that PIA also supports four principles regarding legislation:
  1. We support the availability, affordability, and most importantly, the stability of the P&C market in catastrophe-prone areas;
  2. It must include both residential and commercial coverage;
  3. It doesn't interfere with state regulation of insurance;
  4. It doesn't compete with the private market sector to provide capacity.

Panelists included PIA of Florida President Sergio Gonzalez; Bob Ricker, executive director of Citizens Property Insurance Corp.; Sam Miller, the executive vice president of the Florida Insurance Council; Dr. Ray Spudeck, senior research economist with the Florida Office of Insurance Regulation; Kevin Milkey, executive vice president of American Strategic Insurance Co.; Jim Graganella president & CEO of Capitol Preferred Insurance Co.; Perry Cone, senior VP and general counsel with First Floridian Insurance Co.; Rick Hardy, president & CEO of Florida Family Insurance Co.; and Jim Wurdeman, president & CEO of Poe Financial Group, Inc.

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