The Real Deal Miami

Catastrophe coalition mulled

June 08, 2009 04:37PM

U.S. Rep. Ron Klein, Democrat representing Boca Raton, wants a bill he put forward last month to snowball into a national disaster consortium that could pool state-backed bonds or buy reinsurance to help deal with destructive storms. It would offer a federal guarantee for states that have to issue debt in the wake of a disaster. He says storm damage is no longer a Florida-only problem.