Political Quotes

“As Floridians enjoy the best weather Mother Nature has to offer, we must not neglect preparations for the start of hurricane season on June 1, 2001. I am pleased to join my colleague from Florida, Senator Nelson, and my colleagues from Texas in introducing legislation that will help protect Florida from economic devastation as sunny days and warm water are accompanied by the potential for catastrophic disaster. Our legislation amends section 501(c) of the Internal Revenue Code to grant tax-exempt status to State chartered, not-for-profit insurers serving markets in which commercial insurance is not available. In Florida, this legislation will assist the Florida Windstorm Underwriting Association, FWUA, and the Florida Residential Property and Casualty Joint Underwriting Association, JUA. The Florida Windstorm Association was created in 1970. Twenty-two years later, in 1992, the legislature authorized the Joint Underwriting Association. These organizations operate as residual market mechanisms. They provide residential property and casualty insurance coverage for those residents who need, but are unable to procure, insurance through the voluntary market.”