Letter from Klein on insurance legislation
Dear Friend,
In this photo, Congressman Klein and Chairman Moore investigate the problem of skyrocketing homeowners’ insurance rates in South Florida.
Many of our South Florida neighbors participated in the Congressional hearing as official witnesses. One of the witnesses, Ivan Itkin of Ft. Lauderdale, testified about the problems he faced obtaining homeowners’ insurance at a reasonable rate.
“With respect to my particular building, the condominium association has had great difficulty getting private hurricane insurance,” Ivan said. “It is quite obvious to us that we are not adequately protected. We need another solution.”
The committee also heard from Cynthia Shelton, President of the Florida Association of Realtors, who testified that “The importance of available and affordable insurance to homeowners…cannot be overstated. The inability to obtain affordable homeowners’ insurance is a serious threat to the residential real estate market – and thus, our entire economy.”
I appreciate both Ivan and Cynthia taking the time to participate in this important hearing and share their stories. I am also grateful to Subcommittee Chairman Dennis Moore, who told the committee that recently, a violent tornado nearly destroyed an entire town in his Congressional district in Kansas.
Following the hearing, Chairman Moore said, “Severe weather, such as hurricanes, earthquakes, wild-fires and ice storms, knows no geographic boundaries. How these devastating tragedies impact the affordability and availability of homeowners’ insurance is a national problem that demands a national examination and response.”
I couldn’t agree more. It is long past time for a common-sense, national solution to bring down the cost of homeowners’ insurance. The Homeowners’ Defense Act would do just that, and I look forward to continuing to work with my colleagues across the county as we come together and find ways to bring down costs and make sure insurance is doing what it is supposed to do: spread the risk.
The Homeowners’ Defense Act (H.R. 2555) has more than 50 co-sponsors from over 30 states, and is supported by Democrats and Republicans alike. For more information, including a bill summary, please visit www.klein.house.gov and click on “insurance reform.” As always, if you have comments, questions or ideas, please don’t hesitate to contact me at 866-713-7303 or by email.
Warmest Regards,
Ron Klein
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Posted by admin
on Jul 10 2009. Filed under National politics.
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