Florida On Horizon, Giuliani Touts National Catastrophic Fund

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Florida On Horizon, Giuliani Touts National Catastrophic Fund

January 17, 2008 5:04 PM

ABC News' Jan Simmonds reports: For the past few days, Rudy Giuliani has been criss-crossing the state of Florida telling everyone and anyone he supports the National Catastrophic Fund.

Giuliani hopes that his support of the policy is seen as not just a sound policy decision, but will also help push the majority of Florida Republicans to vote for him on January 29th. The end of the month primary is looking more and more like a "must win" primary for the former New York City Mayor, who has struggled in recent weeks to draw attention from the national media and whose national poll numbers have been consistently on the decline.

Today, while speaking to a meeting of editors and reporters in Tallahassee, Giuliani again pressed the issue saying the fund would make for a more efficient, affordable way of funding the aftermath of national catastrophes and provide faster access to insurance for people.

"Catastrophe can strike in most parts of America,'' he said trying to explain that while it made sense for Florida, it also did for the entire nation. "The reality is, when that happens, the federal government is there anyway, and with a lot of money. The federal government was a backstop for terrorism and terrorism insurance for New York.''

Among the reasons Giuliani gives for supporting the fund is that it would spread the risk created by major disasters across the country. The funding for this proposal would come from a portion of property insurance premiums insurance companies already collect. This money should then grow tax-free, creating a national pool for extreme catastrophic losses and providing an additional level of policyholder protection.

At this time, Giuliani is the only Republican candidate who given his support of the fund and said he would sign such a bill if it crossed his desk.

Speaking in Gulf Breeze yesterday where he spoke at length about the fund, Giuliani would not criticize his fellow republicans for not getting behind the fund when given the opportunity.

But the same could not be said for the Florida State Attorney General and Giuliani’s Florida Chairman Bill McCollum.

“Nobody said they would consider it, but nobody said they would actually support it,” said McCollum referring to meetings he has had in the past year with all the candidates along with Florida Governor Charlie Crist on this issue.

“They were not endorsing it in anyway, shape or form,” McCollum added. “They were just saying, ‘Um, well I don’t know about that, I want to think about that’, you know… This man (Giuliani) didn’t just say he listened to the Governor, he has said ‘I will, I have studied it already, I will support it.’”

Critics of the National Catastrophic Fund warns such a federal insurance “backstop” would have a number of unintended and unwelcome consequences for the economy. Among those drawbacks is that a government-backed insurance would displace insurance in the private market. They also say that a federal program would force taxpayers nationwide to subsidize low premiums for a relatively small group of people in high-risk areas.

January 17, 2008 in Dodd, Chris | Permalink | User Comments (5)

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Better take Rudy at his word when it comes to predicting catastrophies. I mean the guy's got like a sixth sense about that stuff. I mean he KNEW just when to get out of Building 7, early in the morning after 1 and 2 were hit. He just seemed to KNOW that the building was gonna be the third steel framed building in the history of the world to come down by a fire. (After 1 and 2) Even though it was just on two floors. The man was and still is an absolute genius. After all 1 and 2 had all that "jet fuel" to bring them down, but RUDY just knew that he had to get out of the building. I guess he must of just known that there was melted steel under Building 7, just like in 1 and 2. It's good he kept that to himself so the first responders didn't have a chance to get out. I mean they're radios didn't work in '93. It's good like he said that they chose to bravely stay behind to avoid a panic and await certain death. Brave men indeed. Either that or RUDY IS LYING and is responsible for more deaths from 911 than al-Qaeda!!! Thanks to his opening of Manhattan and Wall St. with asbestos and concrete in the air; The number of those who are dying from that alone is triple 911. Thank you RUDY... You have done enough. Now just be satisifed that you will never be charged with your crimes against humanity and GO AWAY!!!!

Posted by: rw3 | Jan 17, 2008 7:53:38 PM

Are you kidding im sure the mayor of New York would sit inside of Building 7 while the trade center is hit by two jetliners.. are serious with that comment.. you mock him for running around and im pretty sure you would mock him if he stood idle.

Posted by: Vin89 | Jan 18, 2008 11:24:52 PM

Rudy has the experience, the record and the work ethic to run for president. his leadership cant be compared to a governor from Arkansas, a business tycon from Massachusetts or an illnois Senator currently in his second yr of office, or a radical revolutionist of Texas. Rudy is honest, positive and down to earth something the other candidates arn't who focus more on dirty politics. Rudy has my vote up in New York, and i pray that he has your's down in florida. for a safer, more prosperous America vote for Rudy Giuliani. Ty and God bless.

Posted by: Vin89 | Jan 18, 2008 11:38:16 PM

Then why did he move the command center THERE!!! WTC was attacked in '93, did he honestly think it wouldn't be a target AGAIN! If that's your defense of Rudy's judgement, it's pretty weak. But then his performance on that day was too. Did you read the second half of that post... HE belongs in JAIL!!! Just ask the firefighters. They'll tell you. Oh that's right, Rudy knows better what happened that day better than they do. They should just shut up like the rest of America and salute the flag, and forget about what Rudy did to their brothers, and the victims own families. PLEASE! It's a sad day in America when the Constitution is RADICAL. I guess you don't need your rights. And how can we be prosperous when people are in debt, housing is at it lowest point since the 30's and the dollar is weaker than Canada AND Mexico. Can you say Hoover!!!

Posted by: rw3 | Jan 21, 2008 11:26:03 AM

how soon we forget 7 yrs ago on that day we call 9/11. we all loved him, we all praised him, we all stood by him. now that he is running for president his record and accounts of what happend gets turned and distorted. my friend you are listening to the rival propaganda and inaccurate statements that are beginning to leak inside the media. you want defense of his 9/11 judgement and performance ill give you defense.
he wasnt claimed person of the year in 2001's time magazine for nothing, he wasnt named "America's Mayor" by Oprah Winfrey herself for nothing, he wasnt given honorary Knighthood by Queen Elizabeth of England for nothing, he wasnt awarded the the Ronald Reagen freedom award by First lady Nancy Reagan for nothing. Let us not forget how he made the most dangerous city in America the safest, and how he turned deficits into surplus', now introducing the largest tax cut in history, do you now see where im coming from.
Now if you know of a candidate that whos more qualified with Leadership roles, national defense, bravery, and perserverance for the future get back to me. its sad how we all forget what people did for us just 7 yrs ago, and i cant belive we debate and ponder on who the best candidate is for this country.
look forward on hearing back from you. Ty God Bless

Posted by: Vin89 | Jan 22, 2008 10:27:01 PM

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