Insurance Update: Blanco makes pitch

LA Gov.Blanco is working to get St. Paul Travelers insurance company to reverse it’s decision to not renew commercial policies in NOLA area…

BATON ROUGE, La. (AP) — Gov. Kathleen Blanco met with the state’s largest commercial insurer on Tuesday, trying to convince executives to reverse an earlier decision to stop renewing policies in the New Orleans area next year.

St. Paul Travelers officials sat through hours of presentations from state officials who argued that southeast Louisiana’s infrastructure has been strengthened since Hurricane Katrina, with sturdier homes, expectations of improved levees and plans to preserve the coastline.

Insurance Commissioner Jim Donelon said Travelers officials promised to relay highlights of the discussion to company chiefs at the company’s St. Paul, Minn., headquarters.

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2 thoughts on “Insurance Update: Blanco makes pitch

  1. What is insurance for, if it’s not about risk, and spreading the risks around? The answer from the insurers appears to be that, now, it’s all about their bottom line, all about their profits and dividends. If you have risks, then we don’t want you. We want only those to whom we will never have to pay a dime. We want to take the money in, but never have to pay it out.
    This is further evidence of the corporate culture which has taken over the country. America exists for the purpose making money for corporations. The common good be damned.

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