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National Cat Fund Pushed By Crist

February 27th, 2007 by Mike Vasilinda

Governor Charlie Crist spent the weekend at the National Governors Association meeting in Washington pushing the idea of a national catastrophic fund. The Governor met with President Bush and the speaker of the house as well as Senate Democratic Leader Harry Reid. As Mike Vasilinda reports, it is the first time a Florida governor has asked the president to push for such a fund.

Hear it here: CAT Fund

During his 8 years as Governor, Jeb Bush never personally talked to his brother, the President about a nation catastrophic fund to cover large scale disasters. Charlie Crist brought the topic up again and again over the weekend while in Washington. “Whether its earthquakes in California or tornadoes in Arkansas or blizzards in New York State… whatever it might be, everybody has a vested interest in this I think.” says Crist.

A national cat fund would cover large disasters and make insurance more affordable to average consumers by making reinsurance less expensive to insurance companies. Crist also pushed and got a resolution for the cat fund from the Southern Governors Association on Sunday. CFO Alex Sink says it is a step in the right direction.

“I think it’s something we have to keep working on. We can’t just go and make one trip to Washington and get the door slammed in our face as we have in the past.”

Unfortunately for some homeowners, insurance rate increases are showing up in their mailboxes. But Charlie Crist says hold on: relief is on the way.

“Some of the increases that people may see in their mailboxes probably were approved prior to the special session or at least prior to the cabinet ruling that was to freeze the rates.” says Crist.

The governor says the national fund is crucial to making insurance affordable.

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