WASHINGTON - has been introduced in the Senate that would increase home weatherization assistance for low-income homeowners as a means of catastrophic loss abatement.
The bill, introduced by Sen. George LeMieux, R-Fla., would amend the Energy Conservation and Production Act.
The legislation drew immediate support from the Reinsurance Association of America, which said it would help reduce the cost of dealing with such catastrophes as hurricanes because it would provide low-income homeowners with the means to "storm-proof" their homes while at the same time making them more energy efficient.
Franklin Nutter, president of the Reinsurance Association of America, said the legislation "is fiscally and socially responsible because it is focused on helping a demographic that is at most risk-low-income residents who do not have the resources to improve the structural integrity of their homes."
He added, "While the Weatherization Assistance Program targets the low-income homeowner, in the end, all constituencies will benefit."
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