“We are all in this property insurance crisis together – and together we have to find a resolution,” says Allstate Floridian president Phil Lawson. He was commenting on Allstate Floridian's announcement that it will begin implementing an extension of its agreement with Royal Palm Insurance Company to offer Allstate Floridian customers property insurance coverage.
Allstate is calling for the creation of a comprehensive national catastrophe plan and believes a national catastrophe fund would be one way of securing Florida from devastating storms. It would be a fund designed to help all Americans in times of crisis – not just one state.
“Florida is the nation's most challenging property insurance market, and helping to bring new capital to the state will improve insurance availability in many communities,” added Lawson. “We all have a role to play in this effort. We are encouraged that policymakers across the country are beginning to recognise that this is not just an insurance issue. Catastrophe risk presents a homeland security and national economic challenge. We believe that comprehensive, integrated reform is needed to create a stronger public-private partnership to help prepare and protect consumers in Florida and across the country.”