‘Beachhouse Bailout’ Bill Reintroduced in Congress

‘Beachhouse Bailout’ Bill Reintroduced in Congress | Heartlander Magazine:
"Rep. Albio Sires (D-NJ) has reintroduced legislation establishing a federal bailout system for financially stressed state-run property insurance programs like the Florida Hurricane Catastrophe Fund, which has $17 billion in liabilities and likely could not fully pay claims if a large hurricane were to strike the state.
The “beachhouse bailout” bill, as its critics call it, has appeared in several guises over the years.
They call it a beachhouse bailout because expensive beachhouses are usually the first damaged where hurricanes land."