Jared Moskowitz wants to spread property insurance risks nationally
Hurricane Helene’s ultimate impact is still being discovered, but a congressional Democrat who served previously as Florida’s Director of Emergency Management thinks it’s necessary to smooth out the impacts for storms nationally and “spread this risk around.”
During a Fox News interview, U.S. Rep. Jared Moskowitz championed legislation he has filed to “create a national catastrophic insurance fund.”
“It would add no money to the deficit. It would allow states to buy bonds that when we have these 1 in 1,000 year storms would take that off of the plates of the insurance companies, which is driving up 25% of the cost on reinsurance,” Moskowitz said. “Even if my bill doesn’t move or go anywhere,...
