The tree huggers at Sierra Club and the insurance industry that bought them will not be happy until we’re all bled white shipping all our money offshore paying for wind-insurance. First they got Gene’s bill; now the only alternative is in the crosshairs. MIchael Gibson of the Sun-Sentinel has the story:
An odd-bedfellows coalition of environmentalists and private-market advocates today unveiled a website and concerted efforts to defeat legislation introduced by South Florida Congressman Ron Klein.
Klein’s bill — backed by House leaders and, in concept, by President Obama — would create a federal backstop for homeowner insurance against damage from hurricanes and other major disasters.
Obama’s support in concept is about as meaningful as his support in concept of Gene’s multi peril’s bill. As we’ve found first hand Obama can not be trusted to keep his word as the story continues:
The coalition, SmarterSafer.org, opposes the bill on the argument that it would interfere with the private insurance market and encourage development in areas vulnerable to disasters and the impact of global warming. Presumably that includes low-lying parts of coastal Florida. Continue reading “Now the Insurance Industry goes after Ron Klein’s Homeowner’s Defense Act”
Ou good friend AM was kind enough to shoot us this hot off the press, press release from Gene’s office. Following the graphics is the original PR from Team Bermuda Reinsurance so our readers can decide for themselves who is telling the truth and who got a big fat donation. The people at the Sierra Club should not so easily sell their good names. If there was truth in labeling this shawdow organization would be called Bermuda Reinsurers united to price gouge American citizens. – sop
Congressman Gene Taylor
U.S.House of Representatives
Fourth District of Mississippi
2269 Rayburn HOB
Washington, DC 20515
Fax (202) 225-7074
For Immediate release Contact: Ana Maria Rosato
March 13, 2009 (202) 225-5772
Gene Taylor Response to Insurance Industry-Backed
Americans for Smart Natural Catastrophe Policy
Environmental Groups Appear to do Industry Bidding
Americans for Smart Natural Catastrophe Policy appears to be a front group funded by the Bermuda reinsurance industry and their investors and partners in the U.S. insurance industry. The lobbyists for the Sierra Club and American Rivers are selling out their members without giving them relevant information.
In the first place, the Taylor bill does increase mitigation and requires stronger building codes. If the insurance-backed coalition truly wanted the federal government to encourage local governments to require stronger building codes, then the most effective way to do so is to make strong codes a condition of a federal insurance program, which is exactly what we do. Sec. 2 (2) of Rep. Taylor’s Multiple Peril Insurance Act of 2009 specifically states the following.
COMMUNITY PARTICIPATION REQUIREMENT- Multiperil coverage pursuant to paragraph (1)(A) and windstorm coverage pursuant to paragraph (1)(B) may not be provided in any area (or subdivision thereof) unless an appropriate public body shall have adopted adequate mitigation measures (with effective enforcement provisions) which the Director finds are consistent with the criteria for construction described in the International Code Council building codes relating to wind mitigation.
Second, the idea that we are increasing federal liability for disaster costs is ridiculous. The federal government already pays for all the losses that are not covered by insurance, but without the advantage of collecting premiums to pay for those losses. As a result, the taxpayers—rather than insurance companies—footed bill. The extent to which insurance companies committed fraud against the taxpayers has yet to be determined. My website details evidence that suggest the insurance companies defrauded the federal government’s flood insurance program. [See Evidence of Fraud by Insurers Handling Katrina Losses With Both Wind and Flood Damage.] Continue reading “The Sierra Club Chips in With Bermuda Reinsurers, Opposes HR 1264”