Republican Party Deals with Need for Disaster Insurance
As a part of its current political platform, the Republican National Committee has pledged its support to improve federal natural disaster insurance. This support by the Republican Party for federal disaster insurance reform comes after a call by the Democratic National Committee's platform in late August, to develop a National Catastrophic Insurance Fund.
Education Collins, who is the national director of ProtectingAmerica.org., says that the Democrats made history when they became the first to address America's physical and financial preparedness to deal with a catastrophic situation. He also notes that the Republicans have now followed suit by now voicing their support for strengthening America's disaster insurance system.
The Republican Party’s platform was adopted on Monday, Sept. 2. They have included in the section, which is entitled, "Domestic Disaster Response," (pg. 18), the following:
They state that Americans who must deal with disaster should never again feel abandoned by their government. Noting that the Katrina disaster has taught the country a painful lesson, they sate that the federal government's system for responding to a natural calamity is in need of a radical overhaul. That in view of this, there is a recognized need for a natural disaster insurance policy.
The platform statement states that although there is a critical need for state and local cooperation, together with private relief efforts, still Washington must take the lead in forging a partnership with the best of America's businesses to make sure that FEMA's Emergency Operations Centers are run as well as any of the Fortune 500 companies. There is a need, the statement says, to make it easier in relief situations for both businesses and non-profits to act as force-multipliers. They also note their belief that it is critical to support those affected by natural disasters and to aid in the completion of the rebuilding of devastated areas, including the Gulf Coast.
The Democrats adopted their platform on Monday, Aug. 25. In it they state that the party will work to prevent future catastrophic response failures, regardless of whether the emergency drives from hurricanes, earthquakes, wild fires, drought, bridge collapses, floods, tornadoes, or other natural or man-made disasters.
It speaks of developing a National Catastrophic Insurance Fund, which would offer an affordable insurance instrument for high-risk catastrophes that an individual private insurer would not be able to cover by itself because of the risk of bankruptcy. The fund, they say, will allow states to deal comprehensively with the economic dislocation brought on by natural disasters.