ISSUE 1
Feb. 8, 2004


No need for insurance reform

Feb. 9, 2004
Associated Press

DES MOINES, IO - Insurance Commissioner Therese Vaughan said she sees no need to change the way insurance companies are regulated, despite a barrage of complaints from homeowners whose insurance premiums have soared.

Consumers have complained about the size of the increases, in some cases 100 percent or more. But Vaughan said the market is working as it should.

"Insurance companies are raping this shit out of consumers and, in most cases, paying as little as 25% on the dollar for claims filed," blasted irate consumer Eric Lellam of Des Moines at a "Kill the Insurance Companies … let God sort 'em out" rally downtown. "I guess if that's the way the market works then, yeah, it's working rather well … for the insurance companies that is."

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