Posted On: January 5, 2007, 3:02 pm CST

Posted By: Chad Balaamaba

let's get this right: "Hurricanes, earthquakes, tornadoes and other natural disasters pose a threat to every corner of America," said Rep. Brown-Waite. "Florida may be hit by hurricanes and California by earthquakes, but homeowners across the nation will face ever growing insurance premiums because of these huge disasters. The Brown-Waite Buchanan bill creates a federal catastrophic reinsurance fund, which state cat funds would contribute to, so that the federal taxpayers would no longer be forced to foot the bill for natural disasters."

If the fund is 'funded' by every state from their own fund, isn't that a national fund: ie premium, to be paid by everyone, including that guy in North Dakota...

sorry, but if you choose to live on a marsh on the edge of the ocean (or even 100's of miles inland), don't ask me to subsidize your wind damage premium. I won't ask you to subsidize my earthquake premium in the midwest (by the way, our windstorm rates are rising, too).

It was noble for these two govt officials from Florida to produce a bill that is for everyone, and not just Floridians. What a coincidence they came up with the grand idea after their state gets repeatedly hit with major storms...I wonder where they were when the Northridge earthquake hit?

Next, they'll come out with a bill to create a national fund to help habitual DUI offenders by subsidizing their premiums, after all it's not fair that they have to pay such higher rates just because they made a mistake and drove that car after drinking...perhaps a federal tax on bars...yeah, that's it.

sorry, I wan't nothing to do with rebuilding New Orleans with tax funds. What we need is someone with the kahunas to simply state "if you have a risk, you better darn well insure for it, because if you don't, don't look for the feds to bail you out...and no, I didn't dynamite the levees; if I had, I would have done a much better job of leveling the place".

or...

we could Oprah-ize everything, and we all pay a flat amount for insurance and everyone shares all risks no matter how big...that would be fair...it's not fair that a large homeowner should pay so much, why, if an asteroid were to hit their house, it's big enough it would only destoy a small portion...yeah, I'll subsidize that, too. But I want an exemption on SUV's and anyone who shops at Wal-Mart.

Sigh....