As surging flood waters continue to inundate the Midwest, an insurance research group announced that a study has found only 17 percent of Americans have a flood insurance policy
The findings were contained in a survey conducted for the Insurance Information Institute in New York.
At the same time, in response to a question, Gary Kerney, assistant vice president of Property Claim Services–which catalogs insured losses from catastrophes–said it expects that the covered damage from the flooding “will be small in number since most of the affected properties are not insured for this peril.”
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