NU Online News Service, April 15, 9:45 a.m. EDT
WASHINGTON–Florida lawmakers' moves to provide a federal backstop to the state's severely underfunded Hurricane Catastrophe Fund are running into strong headwinds.
The latest effort is a bill introduced by Sen. Bill Nelson, D-Fla., that was filed after the Treasury Department declined recently to issue a line of credit to the state Hurricane Catastrophe Fund. That fund provides reinsurance to the state's home insurer of last resort, Citizen's Property Insurance Corporation Fund.
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