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Gulf Coast Chief Drives Dialogue on Insurance Availability

Release Date: October 16, 2007

For Immediate Release
Office of the Federal Coordinator for Gulf Coast Rebuilding
Contact: Gayla Keller, 202-572-8853

(Washington, DC) -- Donald E. Powell, the president’s top official for Gulf Coast rebuilding, today met with leaders of the Greater New Orleans Inc. (GNO Inc.) Insurance Task Force to discuss insurance stability in New Orleans and how to improve insurance availability options in the Gulf Coast region.

"The federal government’s commitment to provide the highest level of hurricane protection ever seen in the New Orleans area by 2011 certainly should send a message to insurance providers that this is a market they can do business in," stated Powell.

Following recent meetings with nine major national property insurance companies and the Excess/Surplus Lines Claims Association, the Office of Gulf Coast Rebuilding remains engaged on insurance issues and is committed to working with leaders from the insurance and real estate industries as well as business and community organizations to create stable, long-term insurance solutions for the Gulf Coast region.

"Organizations like GNO, Inc. have a real sense of what the pressing issues are and where we can work together to achieve immediate and long-term gains," said Powell. "Available and affordable insurance would certainly spur progress in other key recovery efforts including housing and business diversification. It is in our best interests to coordinate and produce results."

The following individuals participated in today’s meeting in Washington, D.C.:

  • Mark Drennen, President and CEO of GNO, Inc.;
  • Dino Paternostro, Public Policy GNO, Inc;
  • John Manard, Jr., Partner, Phelps Dunbar, LLP;
  • Martine A. Mayer, President & CEO, Stirling Properties, Inc.;
  • Steven C. Hemperley, Senior Vice President, Manager – Southeast Commercial Banking, Capital One;
  • Anderson Baker, III, President, Gillis, Ellis & Baker, Inc.

For the last twenty-three months, the Office of the Federal Coordinator for Gulf Coast Rebuilding has been engaged in facilitating and streamlining various components of the recovery effort, providing key federal support and resources to local leaders, and reinforcing the federal government’s commitment to the people of the Gulf Coast.

This page was last modified on October 16, 2007