WASHINGTON--George Dale, Mississippi's outgoing insurancecommissioner said he believes partisan politics in the U.S. Senatewill derail House legislation passed last week adding wind coverageto the National Flood Insurance Program.
In an interview, Mr. Dale also said until Hurricane Katrina in2005 he had not known that homeowners policies in Mississippicontained so-called "anti-concurrent" language, specifying that ifany part of a loss stems from a source that is not covered by thepolicy, like flood, then the insurer is not liable for any part ofthe loss.
He said he issued an order barring the language from being used,but said that since federal courts have said use of the language isappropriate, the state will have to re-examine its policy.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
