The Consumer Federation of America is urging Congress to make carriers change the way they handle flood coverage, which an insurance trade group says would make it more expensive to administer.
The controversy stems from a letter the CFA sent to Congress asking it to bar insurers involved in the “Write Your Own” flood coverage program from using “anticoncurrent causation” clauses in their homeowners' policies to refuse to pay wind-related claims.
The letter was sent to the chairman and ranking minority member of the House Financial Services Committee following the introduction of legislation that would reform the National Flood Insurance Program and give it more money to pay claims.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
