Washington Warming to National Disaster Plan Idea
National News • March 16, 2007
A proposal for a national disaster plan to backup private hurricane and flood insurance markets appears to be gaining momentum in Washington.
This week, Rep. Barney Frank, D-Mass., chairman of the ...
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Subject: RE: We need more capacity, not more regulation
Posted On: March 19, 2007, 11:33 am CDT
Posted By: Roger
Comment:
Since the bulk of the problem arises from land use issues it seems silly to expect the private market to make good for allowing development in areas so prone to a variety of problems. To actually charge the owners of these properties rates appropriate to the risk would be impossible. Unless you spread the cost of the bad risk over the entire market and essentially subsidize irrational development of coastal areas and similar problems private insurance cannot be the solution.
If the government steps into this they also need to be able to say but you can't rebuild in a flood plain or on a fault line or on the coast.
Subject: RE: We need more capacity, not more regulation
If the government steps into this they also need to be able to say but you can't rebuild in a flood plain or on a fault line or on the coast.