Blanco says insurance industry overreacting to hurricanes - KPLC 7 News, Lake Charles, Louisiana

Blanco says insurance industry overreacting to hurricanes

New Orleans (AP) - Governor Kathleen Blanco told a gathering of insurance professionals that the insurance industry is overreacting to Hurricanes Datrina and Rita.

Blanco says they are threatening the region's recovery by withdrawing coverage and charging exorbitant rates.  Blanco tried to assure more than 100 members of the Reinsurance Association of America that the state is on the right track, making Louisiana better protected against future storms.

She says the federal government has invested more than one billion dollars to strengthen more than 100 miles of levees and flood walls.  Also, homes are more storm-resistant because the state has adopted its first statewide building code and the federal government has created new flood elevation maps.

 

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