Day: August 2, 2008

Anita Lee profiles the latest multi peril trial ballon from the Hartford we discussed yesterday here. The Sun Herald story contains a link to the pdf and has a quote from Ramani Ayer, CEO of The Hartford. Anita also quotes Brian Martin who isn’t as enthusiastic.

The nugget buried in the story is the provision requiring coastal homeowners to carry flood insurance, a trial balloon floated by Senator Dodd since the recent Iowa flooding.

The Hartford Financial Services Group has stepped forward with a plan to keep wind coverage in the private market by offering insurance companies protection to cover catastrophic risks and consumers tax breaks or subsidies to buy coverage.

“It’s a great thing that more companies and more legislators and senators are grappling with this issue,” Ramani Ayer, CEO of The Hartford told the Sun Herald on Friday. “The present system, in my way of thinking, is not working.

“We are one storm away from a very severe crisis.” Continue reading “Anita Lee on The Hartford Multi Peril Plan Plus Sam Friedman Chips In”