Submitted by Bret (not verified) on Fri, 05/01/2009 - 9:43am.
The one thing that still confuses me is that the insurance companies continued to post profits following Katrina. If they were able to cover the economic damage from a major storm hitting a major city and still turn a profit, how did they convince the North Carolina Department of Insurance that they needed to impose an increase? Have the folks that are supposed to represent our interests worked too close for too long with the companies they are suppose to regulate?
Why were these increases approved?