Lawmaker Tries Again For Disaster Reinsurance Plan

Law360, New York (May 22, 2009, 12:00 AM EDT) -- Rep. Ron Klein, D-Fla., has reintroduced legislation in the U.S. House of Representatives to establish a massive federal reinsurance fund to back up to $200 billion a year in losses from catastrophic natural disasters, hoping early bipartisan support will shepherd the bill through both chambers of Congress.

If the Homeowners' Defense Act of 2009 passes this time around, more than 30 states would be eligible to participate in several new federally backed programs that would authorize the U.S. Department of the Treasury to administer and back...
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