Dr. Robert Hartwig was featured on Nola.com discussing his viewpoint of Louisiana’s bailout program for failed insurers. Facing a huge and growing number of unpaid claims left by failed insurance companies, a state-chartered bailout program that ensures policyholders do not get stiffed wants to borrow $600 million by selling bonds to banks and investors. Hartwig states, “This is a reasonable approach- it is not ideal. At some point, somebody’s got to pay the piper with interest.” He goes on to add, “Ultimately, this is going to cost more than it would have if these insurers had never gone bankrupt because interest is going to have to be paid on this obligation.” Click here to read the article.
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