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Commissioners Extol the virtues of a healthy competition.

Perhaps it was the venue--sharing ideas in the presence of some of the most powerful insurance executives in the land--or perhaps it was the shock at the federal government's ineptitude at helping victims of Hurricane Katrina more than two years ago.

But the talk from a handful of insurance industry commissioners gathered at the 12th annual Joint Industry Forum hardly sounded like the kind of stuff you'd expect from public servants paid to regulate one of the most powerful industries in the United States.

There was Scott Richardson, insurance director of South Carolina, blasting away at the National Flood Insurance Program as debt-ridden and ineffective.

"I'm a rabidly free market person," he said. "I don't think we should go to a government solution at all."

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Title Annotation:RISK REPORT
Publication:Risk & Insurance
Date:Mar 1, 2008
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