Dodd Blasts Insurance Industry Response to Hurricanes

By | March 12, 2007

  • March 12, 2007 at 1:26 am
    Tom says:
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    Gee, I guess Sen. Dodd didn\’t hear about my company when he blasted the \”insurance industry\” – our claims team was on the ground in many places BEFORE any government agency was present and within a year more than 90% of the claims were settled. Money paid, file closed.

    Or, perhaps he\’s blasting companies that paid in accordance with the state-approved language in the policies (e.g., flood exclusion), which was upheld by federal Judge Senter, and whose management acted responsibly in not paying claims for which no premium was collected.

    Or, perhaps he\’s joining the call for repeal of McCarran Ferguson, even though more than 18 months after Katrina there\’s no evidence of either state or federal antitrust enforcement actions against ANY company.

    And these guys make public policy for the entire nation? If it doesn\’t make you worried, it should.

  • March 12, 2007 at 1:38 am
    Rosie says:
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    The honorable Senator is merely giving a voice in Washington to what most of us in the industry know to be the facts. The industry as a whole, and certain top companies in particular, have been slow in responding hoping that claimants will just go away, and that reserves will continue to garner interest.
    I call on my industry to do better.

  • March 12, 2007 at 1:38 am
    Chad Balaamaba says:
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    Dodd is campaigning; the best way to get the attention of ignorant electorate is to spew ignorant criticism of something he doesn\’t fully understand. Let\’s face it; he aint gonna be on Oprah anytime soon, so if he doesn\’t get his message out soon, he\’s going to be buried even further by Hillary/Barak/Edwards, et al.

    Billions have been paid in these areas, however, what the brilliant minds fail to realize is with so many not returning, it\’s even more difficult to rebuild: there\’s not the same labor pool as before. There\’s hurricane damage in FL from 3 years ago; not because it wasn\’t paid, but some because a contractor is not available, or because there is so much money to make, they don\’t want such a small job.

    I\’m used to seeing hail damage take years to repair; the contractors can only move so fast. So, I\’m sure Dodd will parade out a little video showing us damage that in his book will equate to \’the insurers must not be paying for this\’.

  • March 12, 2007 at 1:43 am
    Wes says:
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    What a demagogue…

  • March 12, 2007 at 2:10 am
    plymn says:
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    This is not a local issue. It\’s a national one,\’\’ Dodd said, saying that more than 60 percent of the country\’s population lives within 100 miles of the [Gulf]coast.\”

    I\’d like to see where this moron came up with that information. Typical blow hard politician, make the facts up so suit your sound bite needs. Why doesn\’t the media ever hold anyone\’s feet to the fire when they throw out numbers?

    Turn John Stossel loose in the Gulf coast and let\’s see what the facts really are.

  • March 12, 2007 at 3:25 am
    Rick says:
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    This should not suprise anyone knowing the character of these political guys/gals. They need power to remain rational, as with power comes the necessary stroking of their massive ego.

    Term limits would go along way in solving problems such as this but we can\’t seem to impose it on them.

  • March 13, 2007 at 2:10 am
    dot_hemath says:
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    Why, plymn, did you insert [Gulf] into Dodd\’s comment. He was certainly not referring only to the Gulf coast.

    For the record, I think he\’s out to lunch on this issue, but fair is fair.

  • March 19, 2007 at 1:01 am
    Bi Insurance says:
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    Nothing like biting the hand that feeds you in attempt to gain ground on Hillary and Obama. What an idiot. I hope the good people of CT send this career politician into retirement, recognizing his only accomplishment in the senate was to cosponsor along with Edward \”Ted\” Kennedy the addition to our national lexicon – \”Waitress Sandwich\”.



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