Jeb bush sought federal solution to reinsurance dependence

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http://www.heraldtribune.com/article/20101024/article/10241054">Jeb bush sought federal solution to reinsurance dependence
Sarasota Herald-Tribune, 10/12

In the fall of 2005, Florida Gov. Jeb Bush called for a national catastrophe fund to help deal with disaster such as hurricanes, earthquakes or wildfire.

A year later, frustrated that the insurance industry was fleeing Florida rather than writing policies, he took it upon himself to find an alternative to reinsurance.

Correspondence obtained under Florida's public records law shows Bush privately urged his brother, President George W. Bush, in 2006 to consider a federal catastrophe program that would replace private reinsurance for the most extreme disasters. He succeeded in getting White House economic adviser Al Hubbard assigned to explore the possibility.

He also reached out to the governors of California, Texas and New York to create a regional catastrophe pool to backstop property insurers.

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