Taylor still pushing for multiple-peril insurance

Rep. Gene Taylor's (D-Miss.) bill pushing for multiple-peril insurance is in, well, peril. The continuing resolution of the bill crafted in 2007 was scheduled to expire March 6. The new Congress and the Obama Administration would either have to pass a full authorization of the bill or provide another temporary extension by that date or the measure would die.

As of March 3, neither of these two options had been exercised. However, Taylor is far from giving up on the proposal that would guard homeowners and business owners against both wind and flooding. In fact, he has attacked the issue anew, proposing the Multiple Peril Insurance Act of 2009 and launching a page on his web site (www.taylor.house.gov/insurancereform) to push the bill.

"Throughout coastal America, property insurance companies have dramatically increased premiums on existing policies, cancelled existing policies or have stopped writing new policies altogether for our nation's home and business owners," Taylor said. "The Multiple Peril Insurance Act will solve this problem."