Obama backs plan for national catastrophe fund

06/10/2008 | Press-Register (Mobile, Ala.)

Presidential candidate Sen. Barack Obama, D-Ill., supports the creation of a "a national, taxpayer-financed reinsurance program that would back up big insurers in the event of major disasters." The catastrophe plan, which entitles residents to lower-cost P&C insurance, is lauded by some insurance companies and reviled by some legislators -- one of whom calls it "the blue-ribbon boondoggle of bad ideas."

View Full Article in:

Press-Register (Mobile, Ala.)

Published in Brief: