Tuesday, May 2, 2006

National Catastrophe Preparedness Organization Applauds Action of Florida’s Legislature

(Washington, D.C.) – The co-chairmen of ProtectingAmerica.org, former FEMA director James Lee Witt and former Department of Homeland Security deputy secretary Admiral James M. Loy (USCG Ret.), today applauded the actions of the Florida legislature calling for the creation of a national catastrophe fund.

The resolution, House Memorial 541, passed in the Senate today by a vote of 39-0 and showed bipartisan support for the issue.  The action by the Florida legislature follows a similar resolution by Governor Bush and the Florida cabinet, demonstrating widespread understanding in Florida that consumers need better protection from catastrophe.

"Governor Bush and the Florida Legislature demonstrated enormous leadership in calling for the creation of a national catastrophe fund that would be privately funded and function as a backstop for state catastrophe funds," Mr. Witt said.

"A national catastrophe fund is an essential element of a national catastrophe preparedness program.  Florida’s policymakers showed national leadership in supporting this national necessity," the former FEMA director said.

"Mega-catastrophe can strike virtually anywhere in this nation.  Residents on America’s coasts and right in the heartland need to be protected from the economic consequences of catastrophic earthquakes, hurricanes, tornados and other natural events," Admiral Loy said.

"Governor Bush and the Legislature are right on target with their support of the efforts of Florida representatives Ginny Brown-Waite and Clay Shaw. Their bill (HR 4366) would create a national fund that assures that resources will be available to repair and rebuild in the aftermath of a catastrophe and help to finance critical emergency preparedness and response program," the former deputy secretary of the US Department of Homeland Security explained.

ProtectingAmerica.org is an organization of emergency management officials, first responders, disaster relief experts, insurers and others.  At the core of ProtectingAmerica.org’s mission is the establishment of a comprehensive, national catastrophe management solution that will increase public awareness; allow for better coordination with state, federal and local mitigation and recovery efforts, and strengthen emergency response and financial mechanisms to rebuild after a major catastrophe.

ProtectingAmerica.org supports the enactment of state and national programs that would include privately financed catastrophe funds as backstops to the private insurance market.  The funds’ private deposits and the majority of the earnings could only be used to cover replacement and rebuilding costs following major catastrophic events.  A portion of the earnings could be used to increase public and consumer education, strengthen first responders, enhance building codes and improve their enforcement.

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