Congressional Democrats, Florida lawmakers, and major insurance companies are teaming up to significantly nationalize hurricane insurance just in time for hurricane season.
Under the plan, taxpayers would finance a backup insurance plan that would aid insurance companies, and thus policyholders, in case of widespread disaster and a shortage of funds.
Both Barack Obama and Hillary Clinton support the insurance plan, under which all Americans would help Floridians avoid $500 in hurricane premiums each year. This sounds like a savvy appeal to a crucial swing state.
While it's important to make sure the insurance system can operate during a time of crisis, for economic and humanitarian reasons, some worry that the bailout would make it easier for people to build homes and businesses in irresponsible locations.
Should there be a national solution to a regional issue?