WASHINGTON--A coalition opposing legislation that would create a national risk pool for natural catastrophes said it has done an analysis showing the measure would create massive new taxpayer liabilities.
The study commissioned by Americans for Smart Natural Catastrophe Policy, which is partially funded by insurance and reinsurance interests, lists estimates of what its said would be the burdens on individual states.
Its cost study was done on the "Homeowners Defense Act of 2007," H.R. 3355, whose supporters envision a federal pool as a method of combating high homeowners' insurance in hurricane-prone areas.
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