Seen on the newswires:
The National Association of Insurance Commissioners said on Tuesday it is considering how several states could set up a fund to pay the costs of hurricanes and catastrophes.[...]
“A multi-state catastrophe fund will allow states to pool their risks in a tax-advantaged fund,” said Florida Insurance Commissioner Kevin McCarty, who heads the NAIC group studying the proposal.
It sounds interesting. However, I trust that you’ll forgive me if I feel paranoid about this turning into a plan for more states to wave their legislative magic wands to brush cat risk under the carpet and out of mind…until the next megastorm hits, anyway.