Dealing with Catastrophes: Could Onshore Reserving Make a Difference?

In the past decade, tornadoes, hurricanes, floods, wildfires, and other major natural disasters have done record amounts of damage in all regions of the country. To assure they can pay claims following these disasters, insurers and reinsurers must maintain “catastrophe reserves.” Because of the way U.S. law treats these reserves, nearly all of them are currently located in offshore jurisdictions like the United Kingdom, Switzerland, Germany, and Bermuda. Rep. Eleanor Holmes Norton has proposed a bill that would encourage companies to keep these reserves in the District of Columbia. Our panel will offer a variety of perspectives on this and other issues related to catastrophe reserving.

Who:

Rep. Eleanor Holmes Norton (D-DC)
Rep. David Rivera (R-FL)
Lawrence Mirel, Former Commissioner of Insurance, Securities and Banking, District of Columbia
Matt Wulf, Vice President, State Relations, Reinsurance Association of America
Eli Lehrer, Vice President, The Heartland Institute

RSVP to dbailin@heartland.org or call 202/525-5717

Free and open to the public - Lunch will be served. - This is will be a widely attended event.