Insurance officials expressed confidence last week that a Feb. 28 Congressional hearing on insurer handling of Hurricane Katrina claims would demonstrate that the industry can be "proud" of its performance in the catastrophe.
Indeed, Joseph Annotti, senior vice president of public affairs at the Property Casualty Insurers Association of America, said his group "welcomes the opportunity to demonstrate how thousands of insurance industry professionals responded to the unprecedented scope of the damage resulting from Hurricanes Katrina, Rita and Wilma in 2005."
The hearing before an oversight panel of the House Financial Services Committee is among a number of actions being undertaken by Gulf Coast members of Congress to pressure insurers to be more flexible in settling claims stemming from the 2005 hurricanes, and to hold down rate increases to homeowners and businesses in the area.
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