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I.I.I. President Testifies for House Subcommittee on Oversight and Investigations

Claims News Service March 5, 1:55p.m.- The president of the Insurance Information Institute (I.I.I.), Dr. Robert Hartwig, recently testified for the U.S. House Financial Services Committee's

By Staff Writer | Updated on March 05, 2007

Claims News Service March 5, 1:55p.m.- The president of the Insurance Information Institute (I.I.I.), Dr. Robert Hartwig, recently testified for the U.S. House Financial Services Committee’s Subcommittee on Oversight and Investigations about claim-payment processes used by insurers in the Gulf Coast following the 2005 hurricane season. The I.I.I. is a non-profit trade association sponsored by the property/casualty insurance industry.

To begin his testimony, Hartwig said that claim payments to restore homes, businesses, and vehicle losses totaled $40.6 billion on 1.74 million claims filed by policyholders across six states. He also testified that most of these claims have been settled without dispute, and that fewer than two percent of homeowners’ insurance claims in Louisiana and Mississippi currently were in mediation or litigation.

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