[StBernard] Governor Blanco continues fighting for affordable insurance; tells reinsurers of Louisiana's bold st

Westley Annis westley at da-parish.com
Wed Feb 14 22:53:37 EST 2007


Governor Blanco continues fighting for affordable insurance; tells reinsurers of Louisiana's bold steps to protect property and reduce risk


NEW ORLEANS - Continuing her personal outreach to the insurance industry in the hopes of delivering affordable rates for citizens, Governor Kathleen Babineaux Blanco told attendees at the Reinsurance Association of America (RAA) 2007 Catastrophe Modeling Seminar that Louisiana is doing what it takes to protect homes and businesses.

"As we continue taking dramatic steps to mitigate risk for future weather events, it's important for the industry to know all that Louisiana has done," Governor Blanco said. "Today's gathering presented a perfect opportunity to tell our story and convince the industry to meet us halfway so our people can afford the protection they need."

Speaking at RAA's conference, Gov. Blanco outlined the state's work to mitigate storm damage - from reforming levee boards to adopting statewide building codes. She also shared the stories of last month's tornado victims in New Iberia and yesterday's victims throughout south Louisiana who let go of insurance policies they could no longer afford.

"Yesterday's tornadoes are another startling reminder that sky-high insurance rates force our citizens into a vulnerable, uninsured position. We must put a stop to this."

The Reinsurance Association of America is a non-profit trade association of reinsurers and reinsurance brokers aimed at increasing the understanding of reinsurance regulatory issues and the reinsurance business. Reinsurers provide insurance for the insurance industry. The availability and cost of reinsurance has a significant impact on the rates charged by insurers.

Over the past few months, the Governor and Insurance Commissioner Jim Donelon have met with various sectors of the insurance industry in an effort to provide a comprehensive solution to the current crisis. Most recently, the two traveled to California to speak directly with risk modelers and executives representing roughly half of the nation's insurance companies, urging them to do business in Louisiana.

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The Louisiana Disaster Recovery Foundation
Louisiana's Fund for Louisiana's People
www.louisianahelp.org




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