Mike the Actuary and Martin Grace, the one and only RiskProf, have posts up on these subjects. Mike, with a new Christmas-y color scheme on his blog, doesn’t think the proposed federal wind program is such a hot idea, but kind of likes the concept of a mega-catastrophe fund. A great post. The RiskProf, meanwhile, appreciates that Florida CFO Alex Sink appears to be cluing in that recent insurance reforms might just have been — what’s the polite way to put it — oversold a wee bit. In my opinion, no one can explain this stuff as well as Prof. Grace, how about if we deluge him with e-mails until he relents and writes a series of posts on the national cat fund and wind coverage proposals?
Questions that may arise for frequent readers from this unusually short post from me may include the following: are you coasting off the work of others? Answer: yes. I’m trying to finish that article on the anti-concurrent cause language in property insurance policies that has figured so prominently in the Katrina cases. Analyzing causation is a brutal, brutal experience. If you don’t believe me, read the works of Scottish philosopher David Hume — a pretty smart guy who said, in effect, when it comes to causation nobody knows nothing.