Tuesday, August 22, 2006

ATLA has released an indictment of the insurance industry's questionable tactics post-Katrina as well as following other natural disasters. The report focuses on Big Insurance's spinning the hurricane from the outset, as "the Great New Orleans Flood." The report also notes that Big Insurance showed a whopping $44.8 billion profit in 2005, and raised its surplus more than 7% to $427 billion. Reference to previous natrual disasters demonstrates that Big Insurance has a long track record in such potentially fraudulent, bad faith tactics.

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