| Insurance industry blocked support for my bill, says Taylor |  |
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Sun Herald, September 11, 2010
BILOXI — U.S. Rep. Gene Taylor said the insurance industry has "broken out all the stops" and shut down his efforts to pass a bill for the federal government to provide "multi-perils" insurance to homeowners in hurricane-prone areas. "That includes getting the U.S. Chamber of Commerce to come out against it," Taylor said. "I regret to say it, but I'll say it. It took the Exxon Valdez disaster to get the Oil Pollution Act of 1990 passed. It took the 9/11 attacks to get the Patriot Act and create the Department of Homeland Security. It will, unfortunately, probably take a major East Coast hurricane, with some other people suffering as we suffered, for us to pass insurance reform. "What I'm up against is an industry with $50 billion to $60 billion in profits every year. They can hire a lot of lobbyists and dump a lot of money into campaigns." Taylor, a Democrat from Bay St. Louis, said some of the support he had with his congressional peers on multi-peril has "dried up." He said now he is working to "just keep getting the word out there" on hurricane insurance. |
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