The Hill News

The East Coast earthquake and the impending approach of Hurricane Irene are stark reminders that natural disasters can occur at any time and suggest a thoughtful approach is needed to protect human life, property and the American taxpayer. The time has come for the U.S. Congress to focus on preparing for disasters before they strike and let private sector insurers pick up the tab after catastrophic events for homeowners and businesses so lives and tax dollars can better be saved.

Government funding of immediate needs associated with a disaster are still necessary to protect lives, for evacuation and rebuilding public infrastructure. However, those living in areas susceptible to natural catastrophes currently pay for most rebuilding of homes and private buildings through insurance coverage at rates reflecting their unique exposure to natural events, and this should continue. There are some â€" including ProtectingAmerica.org â€" who have called for a costly bi! g-government approach that would require the federal government to pick up billions in these insured losses.

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