“The insurance industry is healthy, and the private sector is well-equipped to provide insurance for hurricanes and other natural catastrophes, but state regulators and the federal government must allow the private market to function,” Lazear testified at a committee hearing.
Mississippi Republican Sen. Trent Lott has sued his homeowner’s insurance company over Katrina-related losses and sponsored a bill that would end the industry’s exemption from some federal anti-trust laws. But Lott said he doesn’t support a federal catastrophic insurance program.
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Economy
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Christopher Rugaber, Associated Press
, Anne D'Innocenzio, Associated Press
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March 17, 2025
Americans increased spending tepidly last month as anxiety over the economy takes hold
Consumers from all income levels are feeling more strained, according to a slew of earnings reports over the past few weeks from major retailers.
