Rep. Mel Watt, Chairman of the Financial Services Oversight and Investigations Subcommittee, presided over a hearing today: Insurance Claims Payment Processes in the Gulf Coast after the 2005 Hurricanes.
Watch Rep. Gene Taylor testify on the experiences of his Mississippi constituents with the insurance companies in the wake of Hurricane Katrina:
Watch Jim Hood, Attorney General for the State of Mississippi, give opening remarks on the frustrating experience his state has had with insurance companies in the wake of Hurricane Katrina:
After Dr. Robert P. Hartwig of the Insurance Information Institute repeatedly asserted that 95% of claims had been settled in the first year since Hurricane Katrina, Rep. Maxine Waters decided to find out exactly what he meant by that. Watch the exchange:
In preparation for this hearing, Rep. Taylor has been collecting accounts from his constituents (pdf) on this tragedy: