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posted on August 22, 2008

Americans Across the Country Would Pay Billions if Congress Passes Hurricane Insurance Proposal and Another Katrina-like Storm Strikes, Study Finds

Americans for Smart Natural Catastrophe Policy urges congress to heed warning in new economic study

Americans for Smart Natural Catastrophe Policy, a national coalition of environmental, consumer, taxpayer, and free market and industry organizations, urged Congress to review carefully the findings of an economic study released Aug. 21 by Robert J. Shapiro, who served as under secretary of commerce for economic affairs in the Clinton Administration, and Aparna Mathur, a research fellow at the American Enterprise Institute, that estimates massive new taxpayer liabilities if natural catastrophe legislation now pending in Congress is adopted. The report is titled “The Economic Effects of Proposals for Federal Natural Catastrophe Reinsurance and New Loan Programs: Who Pays the Benefits?”

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