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Giuliani's Property Insurance Claim

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The Tampa Tribune

Published: January 23, 2008

With former New York City Mayor Rudy Giuliani's presidential bid likely hinging on next week's Republican primary in Florida, he's zeroing in on an issue that heavily impacts Floridians - property insurance.

Giuliani supports establishing a national catastrophe fund that would spread the risk of insuring homes and businesses. States hit by hurricanes and other natural disasters are hit again by sharply higher rates, causing enormous financial hardship on residents. It's smart campaigning on Giuliani's part.

But even though a national CAT fund would greatly benefit Florida and its residents, that alone isn't sufficient reason for Sunshine State Republicans to give Giuliani the nod.

Giuliani isn't the first politician to propose or support a national CAT fund. Several top Florida officials, including Gov. Charlie Crist and U.S. Sen. Bill Nelson, are pushing for the creation of a federal program, and several weeks ago the U.S. House passed legislation filed by two Florida congressmen that would establish one.

The Senate version is pending. It's sponsored by Nelson and fellow Democrat Hillary Clinton, also a presidential candidate.

Giuliani isn't even the only Republican candidate who understands that residents of Florida and other states prone to natural disasters need help maintaining affordable property insurance coverage. Former Arkansas Gov. Mike Huckabee now supports a CAT fund. And former Massachusetts Gov. Mitt Romney told this editorial board there may be a need for a national CAT fund to be shared by high-risk states, even though he stopped short of supporting a program in which other states subsidized vulnerable ones.

Without question, Giuliani is right to support a national fund, but Floridians shouldn't let that issue decide their vote.

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