The Indeterminate Loss Solution: A Briefing on Sen. Roger Wicker’s COASTAL Act

by Matthew Glans on June 21, 2011

For decades, the insurers, regulators, courts, coastal residents and their communities have fought long, often painful, battles over the manner in which insurers should allocate losses between wind insurers and the National Flood Insurance Program. Earlier this year, Sen. Roger Wicker introduced the Consumer Optional for an Alternative System To Allocate Losses Act (COASTAL) based on a concept developed by former South Carolina Insurance Commissioner and Heartland Institute Policy Advisor Scott Richardson. The proposal offers a commonsense, common ground, no-risk system that could potentially solve this problem by allocating losses according to a scientifically determined formula.

On June 23rd, the Heartland Institute will host a briefing on the Act and to make Richardson available to present on the act and answer questions about the proposed law’s consequences and benefits.

Scott Richardson, Former South Carolina Insurance Commissioner, Policy Advisor,
The Heartland Institute

Eli Lehrer, Vice President, The Heartland Institute

Rob Melton, Principal Engineer and President of Southeast Engineering Consultants, Inc.

June 23, 2011, 2:30 P.M.

Capitol Visitor’s Center, Washington DC, SVC 215

– (202)525-5717

Yes, there will be food.

This event complies with all relevant ethics guidelines.

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