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Rudy On The National Cat Fund

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Mayor Giuliani took immediate advantage of John McCain’s rejection yesterday of a National Catastrophe Fund by doubling down in a presser today. Romney’s position is somewhere between Rudy’s enthusiastic embrace and McCain’s rejection. Here’s Rudy’s take:

I think the questions and the introduction, rather, that I got illustrates the importance of the National Catastrophic Fund here in Florida, and the main reason it’s so important is that people are finding it impossible to get insurance. And the reality is if there is a catastrophe, once in a generation, once in a lifetime, once in a century kind of catastrophe the federal government clearly is always there and is there with large amounts of money. The idea is to be there with a backstop that will allow a private market to work so that people who have risk will pay more but at least they’ll have insurance that [isn’t] excessive. Now this is necessary for Florida, but if you think about it it’s necessary for a lot of the rest of the country because in California we’re looking at the risk of earthquakes, up and down the east coast -hurricanes, middle of the country -tornados, northern part of the country -ice storms. So the idea of this is to try and see if we can help each other nationally, so that people can get insurance and this can be done in a sensible way. And I think it’s an important thing for Florida but I do think it’s an important thing for the rest of the country including the general areas that I’ve mentioned. And it is an area in which I am the strongest supporter of it of the candidates that are running on the Republican side. (Rudy Giuliani, Press Availability, West Palm Beach, FL, 1/22/08)


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