PIA's Pat Borowski Discusses PIA Natural Catastrophe Plan in CNN Interview

PIA National Senior Vice President Patricia A. Borowski discussed PIA's call on Congress to adopt and fund a coordinated natural disaster catastrophe program, during a nationally televised interview on CNN, on Saturday November 5.

Borowski appeared on the CNN real estate program Open House, hosted by CNN anchor Gerri Willis. 

"In taking the model of the federal flood program, those that have the exposure and purchase the properties will be the ones to certainly pay the largest amount of that cost," said Borowski, elaborating on the proposal for a catastrophe fund that was adopted uninimously by the PIA National Board of Directors on September 11, 2005. "That will lessen the amount of money that the federal government and local governments and state governments already pay out."

"The federal efforts thus far have to be improved," Borowski said. "And part of that also is understanding that, as these insurance premium funds are created, they cannot be raided by subsequent decisions of Congress or any administration to be used for other purposes."

Joining Borowski on the CNN program was J. Robert Hunter, insurance director of the Consumer Federation of America (CFA). Despite the fact that PIA has strenuously objected to some of Mr. Hunter's statements in the past regarding the insurance industry in general and independent agents in particular, he did not attack PIA's proposal. Pressed by the host for his response, Hunter said, "Well, we have to wait for the details."

We are in the process of securing from CNN permission to post a video file of this program here on PIANET. Check back for the link.

For additional information, read PIA National's September 11, 2005 press release: PIA National Board Endorses Creation of Public-Private Natural Catastrophe Fund