WASHINGTON–Insurance industry groups, who faced lawmaker outrage for perceived mishandling of Hurricane Katrina claims, held a briefing today to convince Congress they are doing a good job handling policyholder losses from October's California wildfires.
At a session for congressional staffers on Capitol Hill, the heads of the major insurance company groups spoke of the swift response of the industry and the sacrifices made by insurance professionals to help policyholders begin the rebuilding process.
Robert P. Hartwig, Insurance Information Institute president, noted that although the fires were indeed a disaster with an estimated insured loss of $1.6 billion, the catastrophe involved was relatively small in comparison with what the insurance industry has dealt with before.
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