Kevin McCarty joins state governor Charlie Crist as part of London trade mission
Florida Insurance Commissioner Kevin McCarty joined Governor Charlie Crist in a meeting with Lord Levene, the Lloyd’s chairman, as part of the governor’s Team Florida Trade and Business Development Mission in London.
Commissioner McCarty talked about the importance of modernising the state’s reinsurance framework and Florida’s leadership role in that capacity. He also discussed the role of global reinsurance and the consequences of global warming.
"The market for insurance against large-scale natural disasters has evolved into a highly competitive marketplace,” said Commissioner McCarty. “It is imperative that Florida remains out front as the market continues to evolve. The time for inefficient and potentially obstructive regulation has passed.”
He added: "We remain committed to developing efficient regulation that will stabilize these markets while still ensuring that the promise of available and affordable insurance made to Florida policyholders remains our primary focus.
“The threat of continuing global warming is an issue that all Floridians need to be thinking about, because unless we all take action to help reduce its effects, the frequency and severity of future storms that strike Florida could bring about devastation greater than we ever have seen.
“I am honoured to have been asked by Governor Crist to accompany him and other key officials on this important mission for Team Florida.”