PROTECTINGAMERICA.ORG E-NEWS Momentum Builds for Massachusetts State Catastrophe Fund;
Florida Hearings Urge U.S. Senate Action Earlier this week, the Massachusetts Joint Committee on Financial Services heard from the states’ Legislature’s Special Commission on Homeowners Insurance, business, catastrophe experts, and others about the creation of a state catastrophe fund. Senate Bill 624 would require insurers to contribute to a tax-exempt state catastrophe fund, rather than purchase expensive reinsurance. The result is lower insurance premiums and more protection for homeowners. The bill is supported by Senator Robert O’Leary, who served on the Special Commission. Sen. O’Leary stressed the fact that the fund will help everyone in the state and that insurance is an issue that affects everyone. "If you look at North Adams or Lowell and you think this is just a coastal issue, then you don't understand insurance," said O'Leary. "The benefits will show up in rate reductions for all people in the commonwealth." Read More In Florida, a field hearing on homeowners’ insurance issues conducted by the US House of Representative’s Subcommittee on Oversight and Investigations sent a clarion call to the US Senate that homeowners desperately need to reap the $9.8 billion in annual insurance premium savings that could be provided by enacting legislation that passed the US House of Representatives in November. With the passage of Federal legislation, Florida homeowners would reap $2.4 billion in annual insurance savings. Read More SEND US YOUR NEWS DO YOU HAVE NEWS THAT YOU WOULD LIKE TO INCLUDE IN OUR COALITION SPOTLIGHT? WRITE US AT ENEWS@PROTECTINGAMERICA.ORG AND LET US KNOW HOW YOUR ORGANIZATION IS WORKING TO BETTER PROTECT AMERICA FROM CATASTROPHE. YOUR NEWS WILL BE ADDED TO THE WEB SITE AND FEATURED IN AN UPCOMING NEWSLETTER. See a list of our coalition members | 
