Florida Sen. Bill Nelson, D, says he plans to reintroduce legislation giving the Treasury Department authority to make loans available to state-run reinsurance programs, such as the Florida Hurricane Catastrophe Fund, to ensure their solvency.
His decision reopens the debate within the insurance industry regarding how to handle the cost of national catastrophes.
The legislation has been around in some form since 2007 but has failed to gain traction because of its obvious open-ended cost to the U.S. taxpayer.
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