WASHINGTON – The Trump administration is considering using billions in unspent disaster relief funds earmarked for areas including hurricane-pounded Puerto Rico and Texas and more than a dozen other states to pay for President Donald Trump’s border wall as he weighs signing a national emergency declaration to get it built without Congress. The White House has directed the Army Corps of Engineers to comb through its budget, including $13.9 billion in emergency funds that Congress earmarked last year, to see what money could be diverted to the wall as part of a declaration. That’s according to a congressional aide and administration official familiar with the matter who spoke on condition of anonymity because they were not authorized to speak publicly.It is the latest sign that the administration is laying the groundwork for a possible emergency order as negotiations between Trump and congressional Democrats to reopen the partially shuttered government have ground to a … [Read more...] about Trump administration eyes raiding hurricane relief funds to build border wall
Florida hurricane catastrophe fund
TALLAHASSEE — Hurricane Michael, which pummeled 10 Panhandle counties and spurred evacuation orders for 375,000 Floridians in October, left nearly seven times the debris of Hurricane Irma, which barreled across 45 counties in 2017. And in the three months since Michael came ashore at Mexico Beach, debris continues to be picked up, more than 102,000 people have registered for assistance and 16 counties have qualified for federal aid. "This is a massive, massive storm that we must deal with," Senate Banking and Insurance Chairman Doug Broxson, R-Gulf Breeze, said Monday as lawmakers assessed the storm to determine what the state can do and how much of a request will be made to the federal government. "We must encourage the administration to come up with a package that we can submit to Congress that adequately deals with the problems that the poorest part of the state, the most underserved part of the state is going to be dealing with," Broxson said, referring to the heavily … [Read more...] about ‘They’re going to be dealing with it for generations and generations’: Lawmakers assess Hurricane Michael
0 Comments By Leslie Scism Leslie Scism The Wall Street Journal BiographyLeslie Scism @lesliescism [email protected] Oct. 11, 2018 5:30 a.m. ET Much of the damage to homes from Hurricane Michael will be paid by an array of small, little-known insurers, backed up by larger reinsurance companies around the globe. Florida is an oddball insurance market for homeowners, where household-name companies like State Farm and Allstate Corp. don’t have the outsize roles they do in other states. Officials had to develop a new strategy after these brand-name insurers shrank their presence in the wake of Andrew, Katrina and other hurricanes from 1992 through 2005. Today, Florida is heavily reliant on a group of about 50 small-to-midsize insurance carriers to protect homeowners. These carriers are required to buy ample amounts of reinsurance because they don’t have plump capital cushions like those of bigger insurers. Reinsurers are specialists in sharing the risk of … [Read more...] about Hurricane Michael to Test Florida’s Unique Insurance Market
News Sports Business Real Estate 80° Full Menu 80° Home eEdition Customer Service Site Information Contact Us About Us Herald Store RSS Feeds Special Sections Advertise Advertise with Us Media Kit Mobile Mobile Apps & eReaders Newsletters Social Facebook Twitter Google+ Instagram YouTube News Sections News South Florida Miami-Dade Broward Florida Keys Florida Politics Weird News Weather National & World National World Americas Cuba Guantánamo Haiti Venezuela Local Issues Crime Education Environment Health Care In Depth Issues & Ideas Traffic Sports Sections Sports Blogs & Columnists Pro & College Miami Dolphins Miami Heat Miami Marlins Florida Panthers College Sports University of Miami Florida International University of Florida Florida State University More Sports High School Sports Auto Racing Fighting Golf Horse Racing Outdoors Soccer Tennis Youth Sports Other Sports … [Read more...] about When it comes to flood-insurance, Florida is not getting its bang for the buck. We need a national disaster fund.
If Congress doesn't step up with comprehensive and effective legislation to confront sea-level rise and its already-evident effects, we’re sunk, South Florida.Sunk, literally, as the ocean encroaches upon our shores in the decades ahead. Besides the emotional upheaval, the financial toll is going to be staggering.At the moment, the federal government tries to protect many Americans from the financial shock of flood damage through the National Flood Insurance Program (NFIP). But the program is in the crosshairs of a Congress that has temporarily extended the program six times, most recently until July 31. Facing a $25 billion deficit in the program, members say they’re tired of subsidizing coastal communities with cheap insurance and want big change.What they don’t say is that Florida is a donor state in the flood insurance program. Last year, Florida made up about 35 percent of NFIP policies, but we’ve received just over 7 percent of its payouts during the past … [Read more...] about National disaster fund would more fairly spread the risk