Democrats Want to Nationalize Hurricane Insurance
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?
