WASHINGTON--Two insurance trade groups have commissioned a paper which suggests that a possible solution to the ballooning coastal insurance availability crisis is for the federal government to offer insurance and mitigation tools to low- and moderate-income homeowners.
The report commissioned by the American Insurance Association and the Reinsurance Association of America was written by Robert Litan, a senior fellow in Economic Studies at the Brookings Institution.
It was released as Congress faces continuing pressure to bail out homeowners in coastal states through support of state catastrophic reserve funds and federal insurance.
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