We can try things before they take off. Only take off on this runway, no landings allowed. Been a very good experience. We have grown rapidly among our pierce set p are s peer set. Can you give an example of an experiment that has worked and one that has failed . Since this is being televised and there are hundreds of people here. I will talk about successes. We have a number of them. We have an overnight crew that produces something called morning mix working from 10 00 at night to 6 00 in the morning. They look all over the world and internet for stories that can be done. They develop those stories in their own way. They are posted at 5 00 in the morning or earlier and it gives us a lot of fresh content written in a way that is particularly suited to the web. This is different than the way you write for a newspaper. It has been quite successful. We also started something called posteverything which is our answer to what Huffington Post was at the beginning where we invite outside wri
Insurance companies, the private Insurance Companies would price in the risk. If there was money to be made by pricing in risk, they would do it. This is what we need. Its kind of ridiculous that all of the american taxpayers should be on the hook for National Flood insurance, as tragic as this situation is. Look, the all time record for a flood payout was 20 billion. Hurricane andrew in 1992. That was a cat 5 hurricane. Had it hit miami, there are estimates it would have been 200 billion. Thats a lot for even our federal government is to absorb. David it is. And bruce, already, the National Flood Insurance Program is 23 billion in debt. This storm could make it go up another 10 to 15 billion in debt. There doesnt seem to be any end to it. Well, here is the problem with private insurance managing big risks and so forth. Theyre only good at it, until theyre not. You can look at that in other industries, whether it be aig in financial or health Insurance Companies that did well in the fi
Insurance companies, the private Insurance Companies would price in the risk. If there was money to be made by pricing in risk, they would do it. This is what we need. Its kind of ridiculous that all of the american taxpayers should be on the hook for National Flood insurance, as tragic as this situation is. Look, the all time record for a flood payout was 20 billion. Hurricane andrew in 1992. That was a cat 5 hurricane. Had it hit miami, there are estimates it would have been 200 billion. Thats a lot for even our federal government is to absorb. David it is. And bruce, already, the National Flood Insurance Program is 23 billion in debt. This storm could make it go up another 10 to 15 billion in debt. There doesnt seem to be any end to it. Well, here is the problem with private insurance managing big risks and so forth. Theyre only good at it, until theyre not. You can look at that in other industries, whether it be aig in financial or health Insurance Companies that did well in the fi
We have five state Insurance Commissioners. Thank you for coming from long distances, some of you, to be with us to give your testimony on how to help the 18 million americans in the individual Insurance Market. To give an idea of how many people are interested in this, senator murray and i invited senators who were not on our committee, which has about a quarter of the senate is on this committ committee, to come to a coffee with the five commissioners that weve just completed for an hour. We had 31 senators there. Thats a remarkable level of interest. Senator murray and i will each have an opening statement. Then well introduce our five witnesses. After their testimony, senators will have an opportunity to ask witnesses questions and well do it in fiveminute rounds. This includes 23 United States senators. Nearly onequarter of the members of the senate. It includes senators with the widest divergence of views. It has a republican majority of only one. Yet working together the last tw
[inaudible conversations] please come to order. We are holding the first hearing on stabilizing premiums and ensuring access to the individuals Health Insurance market for 2018. How to help the 18 million americans and the individual Insurance Market to give an idea of how many people are interested in this, we invited senators who were not on our committee, which has about a quarter of the senate on the committee. To come to. Weve got senators there so that is remarkable interest. We will each have an Opening Statement and then introduced the five witnesses. After the testimony, senators will have an opportunity to ask witnessewitnesses questions andl do it in five minute rounds. This committee includes 23 United States senator nearly one quarter of the members of the senate and that includes senators with the widest divergence of views and has a republican majority of only one. Working together the last two years, weve been able to agree on big steps, big issues about which we have b