The decision earlier this month by a federal appeals court in New Orleans supporting insurer flood exclusions in Hurricane Katrina claims should send a message to homeowners about the need to buy flood insurance, one industry group contends.
Joining other insurer groups and individual carriers in applauding the ruling by the 5th U.S. Circuit Court of Appeals panel, Justin Roth, senior federal affairs director of the National Association of Mutual Insurance Companies, made the case for flood insurance purchases. "This case underscores the need for residents in flood zones to purchase insurance through the federal government's National Flood Insurance Program," he said.
"It's another illustration of why the nation's flood maps need to be updated and homeowners in those areas need to be aware of, and urged to purchase, coverage through the NFIP," he added.
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