NU Online News Service, March 10, 4:02 p.m. EST
WASHINGTON–The bill, the Homeowners Defense Act, H.R. 2555, was introduced by Rep. Ron Klein, D- Fla. Sen. Bill Nelson, D-Fla., has filed companion legislation in the Senate.
Primarily, the bill would establish a national catastrophe risk consortium for states to pool risk, creating a new federal reinsurance program for state catastrophe funds.
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