WLOX Editorial: National insurance pool needed - WLOX.com - The News for South Mississippi

WLOX Editorial: National insurance pool needed

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The aftermath of Hurricane Sandy, which is reported to have caused around $50 billion in damages to the northeast, is now causing some members of congress to call for a national insurance pool.

We are glad to hear there is some discussion going on in Washington on finding ways to make insurance more affordable in areas where natural disasters seem to occur more often.

Shortly after Hurricane Katrina there was some movement for Mississippi to join Louisiana and Alabama in some sort of Hurricane plan which would help lower our insurance costs as well as spread the risk among the three states. However, no agreement could be made and the plan was abandoned.

Today high insurance costs still plague the coast and has hampered rebuilding near the beach. Many of us on the coast have often thought that it would take a major storm or catastrophe in a more heavily populated area of the country before others would buy in to a plan that would support something like a national insurance pool.

No doubt residents along the eastern seaboard are now experiencing many of the same insurance problems we faced after Hurricane Katrina.

It is a complicated issue and there are no easy answers, but we hope the renewed interest in some type of national insurance pool will bring some relief to all coastal residents including residents of the Mississippi Gulf Coast. 

That's our opinion, we would like to hear yours. Email your thoughts to editorials@wlox.com, or post your comments below.

David Vincent
WLOX-TV General Manager

Copyright 2012 WLOX. All rights reserved.

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