A bipartisan hearing to investigate insurance issues stemming from Hurricane Katrina has been scheduled by Congress, and will take place on Feb. 28, 2007.

The announcement of the hearing came last week from North Carolina Rep. Melvin Watt, who is the chairman of the Subcommittee on Oversight and Investigations. In the statement, Watt said both Democratic and Republican members will discuss whether private insurance companies have been properly paying claims as a result of the storm.

The hearing follows a statement issued in January by Rep. Watt and Financial Services Committee Chairman Barney Frank following the U.S. District Court decision affecting State Farm insurance claims, and called for an oversight hearing on the alleged failures of the insurance system in the Gulf Coast.

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