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Reply #22: Insurance costs are making it impossible to rebuild [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007)

Jacobin

(1000+ posts) Send PM | Profile | Ignore

Sun Dec-17-06 06:38 PM
Response to Original message

22. Insurance costs are making it impossible to rebuild

In New Orleans. Rates are unregulated and through the roof, in many cases more than the monthly payments. This is a knee jerk reaction from kleptocratic insurance companies whose profits in 2005 were higher than they have ever been, even considering the Katrina/Rita losses.

Some form of federal intervention to subsidize the insurance costs until the companies stop panicking would be of enormous beneft

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