Florida Insurance Commissioner McCarty Joins Gov. Crist in Meeting with Lloyd’s of London

Jul 16, 2008

Florida Office of Insurance Regulation–July 15, 2008
TALLAHASSEE, Fla. – Florida Insurance Commissioner Kevin McCarty today in London joined Gov. Charlie Crist and House Speaker Designate Ray Sansom in a meeting with Lord Levene, the chairman of Lloyd’s of London, as part of the governor’s Team Florida Trade and Business Development Mission.
Commissioner McCarty talked about the importance of modernizing our 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, “and it is imperative that Florida remains out front as the market continues to evolve. The time for inefficient and potentially obstructive regulation has passed. 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 honored to have been asked by Gov. Crist to accompany him and other key officials on this important mission for Team Florida.”