State official presses lawmakers to subsidize coastal insurance - al.com

State official presses lawmakers to subsidize coastal insurance - al.com: "MONTGOMERY — The state should help Mobile and Baldwin residents pay for their rising insurance costs, Alabama Revenue Commissioner Tim Russell told a legislative panel Wednesday.

Annual state subsidies of at least $20 million, or one lump $250 million allocation, would be needed to make a difference in the price of coastal insurance, according to Insurance Commissioner Jim Ridling. Ridling said he doubts that insurance costs could be brought down without state or federal subsidies.

Russell cited similar amounts and said even more money might be required."