Throughout the Southern region, particularly in areas most regularly affected by natural disasters such as hurricanes, private insurance markets have become increasingly unstable, limiting the availability of affordable residential and commercial insurance. The 2005 hurricane season proved that the U.S. currently is ill-prepared to manage the financial aftermath of catastrophic events, and without changes, states are likely to continue to see insurance companies drop coverage in risk-prone areas or raise premiums beyond the reach of most households and many businesses.
SGA assists member Governors by monitoring federal activities impacting the availability of reasonably priced property and casualty insurance from private markets and advocating for policies that ensure greater stability in the residential and commercial insurance markets. SGA also seeks to ensure that the National Flood Insurance Program continues to meet the needs of Southern households.
Read more about SGA’s activities on this issue: