S. 1361, the Natural Disaster Protection and Insurance Act of 1999: Hearing Before the Committee on Commerce, Science, and Transportation, United States Senate; April 13, 2000 (Classic Reprint) - Softcover

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Excerpt from S. 1361, the Natural Disaster Protection and Insurance Act of 1999: Hearing Before the Committee on Commerce, Science, and Transportation, United States Senate; April 13, 2000

While this provision may serve a useful role within the Corporation governance structure, it would not be needed were the program to be lodged within a Federal agency and were the cap on Federal liability to be revised as we have suggested. An alternative approach that might meet the intention of this provision would be to provide for the option of offering multiple-year, as well as one-year, contracts, if market conditions indicate that such contracts would be appropriate and desirable. We have had useful discussions with your staff on this issue also, and would be pleased to continue to work with your staff.

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