Insured Losses Due To Hurricane.
Hurricane Katrina was the worst natural disaster the insurance industry has ever managed. The number of claims exceeds the previous record of more than two million made to cover losses in 2004 from the four Florida storms. There has been a great deal of press coverage about the way Insurance companies have handled claims. Several stories have aired showing families who have been denied insurance for losses they suffered from Hurricane Katrina. The issue is that Homeowners insurance policies have never covered losses due to flood and this Hurricane resulted in major flood damage. The typical homeowners policy covers damage … Continue reading