Election Reopens National Catastrophe Fund Debate

Law360, New York (January 14, 2009, 12:00 AM EST) -- The creation of a national catastrophe fund has been hotly debated, but more than three years after the worst natural disaster in U.S. history, experts remain divided as to whether a federal backstop would be an effective – or fair – means of spreading the risk in an already overburdened economy.

Though the Homeowners' Defense Act died in the last Congress, the question of whether federal funding for catastrophes is needed has heated up again, thanks in part to the 2008 presidential election.

Former President Bush...
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