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Sen. Lott to Resign From Senate

The insurance industry won't have Sen. Trent Lott (R-Miss.) to kick around much longer - and vice-versa. The veteran lawmaker who is said...
November 27, 2007

The insurance industry won't have Sen. Trent Lott (R-Miss.) to kick around much longer - and vice-versa. The veteran lawmaker who is said to have promised after Hurricane Katrina that he would "bring down" the insurance industry announced on November 26 that he would resign by the end of the year.

Frustrated over the industry's handling of claims after Hurricanes Katrina and Rita in August 2005, including the handling of his own claim by his insurer State Farm for the destruction of his home, Lott promised to dedicate his next term to "bringing down State Farm and the industry." The comment was made in a phone call to NAMIC president and CEO Chuck Chamness, according to a letter written by Chamness.

The 66-year-old Lott is the Senate's number two Republican and is Minority Whip. Political observers and staffers say the surprise resignation is occurring before the end of this year to avoid more stringent ethics rules taking effect on December 31, which double from one to two years the time that former public officials must wait before they become lobbyists.

"I don't know what the future holds," said Lott, at a press conference in Pascagoula, Mississippi. "A lot of options, hopefully, will be available." He said that while he is exploring other career opportunities, he's "not really involved in negotiations."