Insurance Industry Faces the New Democratic Congress

Thursday, March 1st, 2007 Legislation & Regulation

The insurance industry has its first encounter with the new Democratic Congress Wednesday as the House Financial Services Subcommittee on Oversight and Investigations holds a hearing on how insurance companies have processed claims in the aftermath of Hurricane Katrina. Rep. Gene Taylor, D-Miss., whose home was destroyed during the horrific storm two years ago, has asked the panel to investigate why insurers have been attributing property damage claims to flooding, rather than wind – a move that puts the burden of payment on the federal government’s flood insurance program instead of on private companies.

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http://www.politico.com/news/stories/0207/2913.html

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