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What a shocker! Just when you think insurers have Hurricane Katrina claims under control, a new ruling comes down that even the judge admits could have an “overwhelming” impact on the industry. In case you didn’t see the story, earlier this week, U.S. District Court Judge Stanwood R. Duval Jr. in New Orleans decided that many insurer flood exclusions do not apply to the 2005 levee breaks in The Big Easy last year. The big question is, now what?

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