Election Day was a good one for the property and casualty insurance industry, with the results boding well for many industry initiatives and concerns.
The election of a strong Republican majority in the House will likely slow federal inroads into regulating the industry despite the uncertainty created by the need for a huge federal bailout of American International Group.
In addition, the industry invested heavily in defeating Rep. Gene Taylor, D-Miss., who consistently sought to add wind protection to the National Flood Insurance Program and to close certain loopholes that allowed the industry to reduce the risk of insolvency through claims from a huge hurricane.
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