I count myself as a lucky guy this morning as a very busy day is still ahead for me and I really don’t have the time to write a comprehensive post on yesterday’s insurance roundtable sponsored by Senator Wicker and his staff. I’m lucky because Anita Lee was also there and she did a fantastic job reporting the events. Before I chime in with a bit of analysis and a personal touch let’s visit with Anita:
Frustrated by Senate inaction, U.S. Sen. Roger Wicker stepped up his role in the coastal insurance debate Thursday, hosting an insurance forum that presented ideas for an overhaul of the National Flood Insurance Program that were new to the audience.
Approaches to insure against catastrophic risk varied, but two thoughts appeared universal: The current insurance system does not work for low-frequency, high-severity events such as Hurricane Katrina, and property owners can expect a stable and affordable insurance market only if they fortify their homes against hurricane damage.
Wicker said after the forum he hopes to build momentum for a Senate hearing on comprehensive coverage for catastrophic events. Christopher Dodd, D-Conn., has not followed through on promises that the Banking Committee he chairs will hold a hearing on the issue.
Mentioning Chris Dodd here on Slabbed is like featuring Loyola Law Professor Dane Ciolino as it represents red meat for the slabbed nation. Luckily for everyone, the good people in Connecticut agree with our assessment as Dodd’s poor poll numbers spelled doom for any chance at re-election so he retires this year, no doubt to the revolving door. Continue reading “Anita Lee covers Senator Wicker’s Insurance Roundtable. Slabbed adds a bit of analysis.”