Senate rejects adding wind coverage to flood insurnace program, 73-19

Tuesday, May 13th, 2008 Property

The U.S. Senate last week officially rejected a bid by Gulf state senators to add wind coverage to a financially strapped federal program that provides flood insurance. Lawmakers from Louisiana and Mississippi cited problems that occurred after Hurricane Katrina and other big 2005 storms when private insurers covering wind damage claimed that destruction to property resulted from flooding, thus shifting the burden of payments to taxpayers.

---

http://www.insurancejournal.com/news/national/2008/05/12/89918.htm

---