Sen. Elizabeth Warren (D-Mass.) wants the federal government to help fix the nation’s growing property-insurance crisis.
But she isn’t sure how.
Now, Warren and the insurance industry have a shortlist of ideas — ranging from tax breaks to grants — to guide experts and lawmakers as they debate a possible federal role in a state-regulated industry.
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“We need a national and coordinated response” as natural disasters cause huge damage that weakens local insurance markets and threatens broader financial stability, Warren, the top Democrat on the Senate Banking, Housing and Urban Affairs Committee, said in an email. The federal government “will be an essential partner” to help states address insurance costs.
