The property and casualty insurance industry should wake up and smell the coffee.
That's because the industry is now engaged in the worst of all possible worlds, a two-front war. And, equally important, there is no clear path out of the tunnel the industry currently finds itself in.
The problems are the unexpected reopening of the issue of the high deficits facing the National Flood Insurance Program through legislation passed by the Senate last week — an issue moving to a House apparently unwilling to rubber stamp the Senate action.
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