On October 20, 2010, the RAND Corporation, Gulf Coast Business Council, and University of Southern Mississippi -- Gulf Coast cosponsored an insurance forum titled "What's Wrong with the Insurance Market Along the Gulf Coast and How Do We Fix it?"
Economist Lloyd Dixon presented a new study by RAND that concludes that federal government reforms are necessary to stabilize the coastal insurance market. Congressman Gene Taylor presented the case for my legislation to create an option to allow property owners to buy wind and flood insurance from the National Flood Insurance Program.
Congressman Taylor told WLOX that he believed that it may take a major hurricane hitting one of the more populated areas along the Eastern Coast and experiencing what the South Mississippians experienced in order to obtain final passage of his Multiple Peril Insurance legislation.
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