Reform the Insurers

In the wake of Hurricane Katrina, many Gulf Coast residents were denied insurance payments because the insurers said that storm damage fell outside policy guidelines. Recently United States Representative Charlie Melancon of Louisiana and Representative Gene Taylor of Mississippi, both Democrats, introduced a bill that would eliminate incentives for insurers to deny claims (such as the industry’s antitrust exemption) and mandate that it cover all storm hazards, including floods. Their bill also calls for federal oversight of insurers, which are currently regulated by the states. (

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