Washington–A member of a House panel scored insurance commissioners for a lack of speed and uniformity in their reaction to Hurricane Katrina and other storms yesterday during a hearing on marketplace issues related to catastrophes.
The criticism came from Rep. Richard Baker, R-La., who chairs the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
The informal session was called to examine the catastrophe effects on the insurance marketplace and insurers' response to it. Insurance regulators from the storm-battered states of Florida, Mississippi, Alabama, Louisiana and Texas were on hand.
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