Bookmark this:
Create a national catastrophe insurance reserve
"Will create a National Catastrophe Insurance Reserve that would be funded by private insurers contributing a portion of the premiums they collect from policyholders. Such a framework would neither distort the insurance market nor discourage risk avoidance and risk mitigation investments because insurers would not be forced out of high-risk markets for fear of bankruptcy in the event of a disaster. With this program in place, disaster victims would no longer have to depend solely on taxpayerfunded federal disaster aid loans."
Sources: "Barack Obama: Rebuilding the Gulf Coast and Preventing Future Catastrophes"
Subjects: Homeland Security, Katrina
We want to hear your suggestions and comments. For tips or comments on our campaign promise database, please e-mail the Obameter. If you are commenting on a specific promise, please include the promise number. For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out.
PolitiFact is a project of the St. Petersburg Times to help you find the truth in American politics. Reporters and editors from the Times fact-check statements by members of Congress, the White House, lobbyists and interest groups and rate them on our Truth-O-Meter. We’re also tracking more than 500 of Barack Obama’s campaign promises and are rating their progress on our new Obameter. >> More
Keep up to date with PolitiFact:
- Sign up for our e-mail (about once a week)
- Put a free PolitiFact widget on your blog or Web page
- Subscribe to our RSS feeds
- Add us to your iGoogle page
- Follow us on Twitter
- Fan us on Facebook
