When determining how best to prepare for and pay for natural catastrophes in the United States, it is important to deal with facts. This important public policy issue, being debated in a number of state legislatures and Congress, demands an honest discussion. NatCatUS.org is dedicated to debunking myths about catastrophes and charting a proactive course based on the realities Americans face before, during and after a natural catastrophe.
1.The federal government should insure natural catastrophes because the private insurance market does not have the financial resources to cover disasters such as Hurricane Katrina.
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2.As taxpayers, we all pay for natural catastrophes already through federal programs such as FEMA, so we might as well have government catastrophe insurance funds.
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3.Providing after-the-fact disaster relief and creating government catastrophe funds are the only options available to government in dealing with the financial impact of natural catastrophes on consumers.
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4.Creating government reinsurance catastrophe funds, like Florida’s fund, is a good way to help consumers lower their homeowners’ insurance costs.
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5.The federal government can help states lower the cost of homeowners insurance by adding wind coverage to the national flood insurance program and providing the states with government reinsurance and low interest loans.
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