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October 25, 2004

California official grills insurers

Insurance Commissioner John Garamendi sat insurance companies on the hot seat yesterday, asking them if they can do better when establishing how much coverage a home gets.

At an investigatory hearing in San Diego, the state's insurance regulator heard seven hours of testimony focused on "underinsurance" – a complaint from last October's fire victims who say their policies didn't pay enough to rebuild their homes.

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Posted by Tom Troceen