Reinsurers blast federal disaster backup plan advancing in Congress

Tuesday, November 13th, 2007 Legislation & Regulation Property

The nation’s reinsurance industry is criticizing Congressional natural disaster legislation as raising false hopes about addressing the homeowners insurance market in areas prone to hurricanes, at the expense of U.S. taxpayers and disenfranchising the private marketplace. The proposals under fire seek to create a federal catastrophe fund as a means to make homeowner’s insurance more affordable and available.

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http://www.insurancejournal.com/news/national/2007/11/12/84983.htm

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