Democrats Want to Nationalize Hurricane Insurance

As if the taxpayers don't already have enough to pay for already, the geniuses in the Democrat party want us to pay for national catastrophe insurance

WASHINGTON -- As hurricane season begins, Democrats in Congress want to nationalize a chunk of the insurance business that covers major storm-damage claims. The proposal -- backed by giant insurers Allstate Corp. and State Farm Mutual Automobile Insurance Co., as well as Florida lawmakers -- focuses on "reinsurance," the policies bought by insurers themselves to protect against catastrophic losses. The proposal envisions a taxpayer-financed reinsurance program covering all 50 states, which would essentially backstop the giant insurers in case of disaster. The program could save homeowners roughly $500 apiece in annual premiums in Florida, according to an advocacy group backed by Allstate and State Farm, the largest writers of property insurance in the U.S.

Isn't that nice? All those wealthy retirees in Boca Raton and Punta Gorda get to save $500 per year, while the rest of us get more and more deducted from our paychecks.

Hey stupids: The people in Oklahoma and Kansas aren't lobbying for tornado insurance. The people in Alaska aren't lobbying for blizzard insurance. Let the Floridians pay for their own hurricane insurance and leave the rest of us alone.