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Insurers' 60-year 'temporary' reprieve.

Publication: Trial
Publication Date: 01-MAY-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: Insurers' 60-year 'temporary' reprieve.(President's page)

Article Excerpt
It's been almost two years since Hurricane Katrina decimated the Gulf Coast, yet many wards in the great city of New Orleans continue to resemble the back lot of a World War II movie set.

The insurance industry, which many beleaguered residents trusted to help them rebuild, has instead abandoned them without hope. By blaming the destruction on floodwaters---not covered by most homeowner policies--rather than wind and rain, the insurance giants have deserted faithful premium payers and are now busy counting their record profits.

This tragedy has focused national attention on a business that enjoys a perquisite available to very few others--immunity from federal antitrust laws. The mistreatment of...

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