More on ‘Flood’ Insurance
“‘Flood damage’ issue must be national policy” says Hugo Newcomb Jr. in the Clarion Ledger
The article below speaks about the need for a national solution and policy” to make sure that insurance covers people properly in the event of a hurricane.
In short – people were told they did not need flood insurance becuase they did not live in a flood plain. Yet when their houses were swept away by Katrina’s storm surge the insurance comanies have refused to pay up, because they had no flood insurance! It gets better – they could not even have boought flood insurance even if they wanted it!
Read on for a more reasoned and eloquent argument as to why the insurance industry needs its collective arse kicked.