March 09, 2007
SEN. DODD ANNOUNCES HEARING ON AVAILABILITY AND AFFORDABILITY OF INSURANCE IN THE GULF AND OTHER COASTAL STATESSenator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced today in New Orleans that he will hold a hearing on the impact that Katrina and other natural catastrophes have had on the availability and affordability of insurance for families and businesses in the Gulf Coast and other coastal regions across the country. Chairman Dodd will examine the current practices of the insurance industry, specifically the claims processed post-Katrina and the industry’s ability to insure customers from future natural disasters. “I am very concerned about the difficulties Americans are having keeping and finding insurance – not just in New Orleans and the Gulf Coast, but in coastal areas throughout the country,” Dodd said. “To that end, I will examine the insurance industry’s role in helping citizens rebuild their houses, and businesses open up their doors. In order to move forward – and move home – insurance companies must fulfill their outstanding obligations to their customers, and help them prepare for future catastrophes.” Sen. Dodd announced that this hearing will take place on April 11.
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