On January 27, the Center on Finance, Insurance and Real Estate at The Heartland Institute held a half-day event in Austin, Texas, discussing the nature of the state’s insurance environment and offer solutions from similarly situated states. The event was titled “Out of the Storm: Introduction to Insurance.”
Julie Drenner, the Texas Director of Heartland’s Center on Finance, Insurance and Real Estate coordinated the event, highlighted by panelists from state insurance regulators, academia and the insurance industry. The featured guest was Wayne Goodwin, North Carolina Insurance commissioner. Commissioner Goodwin focuses on consumer advocacy through fair rate-making, injury prevention efforts, and close regulation of insurance company solvency and industry practices.
Several of the panelists PowerPoint presentations are available online at Heartland’s Finance, Insurance and Real Estate News. Presentations available include:
Residual Markets 101
Dr. David Marlett, Appalachian State University
http://www.heartland.org/firepolicy-news.org/article/29255/Residual_Markets_101.html
In his presentation, Marlett examines why residual markets exist, several major issues that residual markets face and examines the current state of several residual markets along the Atlantic Coast.
Reinsurance 101
Keith McCue, Renaissance Reinsurance
http://www.heartland.org/firepolicy-news.org/article/29256/Reinsurance_101.html
In his presentation, McCue discusses the how reinsurance works, its role in the insurance market and the important part that reinsurance plays in managing risk for insurers, ensuring that the claims of policyholders are paid when disaster occurs.
The Texas Windstorm Insurance Association: Some History and Information
Daniel Sutter, University of Texas – Pan American
http://www.heartland.org/firepolicy-news.org/article/29257/The_Texas_Windstorm_Insurance_Association_Some_History_and_Information.html
In his presentation, Sutter examines the history and development of the Texas Windstorm Insurance Association
Evaluating Residual Markets
Lawrence S. Powell, University of Arkansas- Little Rock
http://www.heartland.org/firepolicy-news.org/article/29259/Evaluating_Residual_Markets.html
In his presentation Powell examines three questions about residual markets:
- What leads to residual markets?
- If there must be a residual market, what should it look like?
- How can states achieve these characteristics?
