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Coastal insurance bill killed in senate
Coastal insurance bill killed in senate
Midfield senator blocks coastal insurance proposal Friday, May 02, 2008 By BRIAN LYMANCapital Bureau MONTGOMERY The state Senate killed a bill Thursday that supporters said would help address a coastal insurance crisis in Alabama by expanding the beach pool, but did revive and pass a ban on commercial gill nets.
The Senate's actions leave both issues in the hands of the House of Representatives.
The insurance bill that died Thursday was one of two Senate bills dealing with the topic sponsored by Sen. Ben Brooks, R-Mobile. The Senate on Wednesday approved the other bill, which would allow so-called captive insurers to sell homeowners policies.
Brooks said that expanding the number of people eligible for the Alabama Underwriting Insurance Association often called the beach pool, the coastal insurer of last resort would provide relief to homeowners in Mobile and Baldwin counties, which have been battered by recent hurricanes.
The bill, Brooks said, would help the beach pool survive a catastrophic storm.
"Can you imagine a case where a hurricane hits and there's a catastrophic loss, and the pool goes out of business?" he said.
The bill passed the Senate unanimously, but needed the unanimous approval of senators ... more

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