While a bid to add wind coverage to federal flood insurance has stalled in Congress, a southern senator is pitching a compromise bill that seeks to bridge the gap over wind-vs.-water damage claims.
As this edition went to press, Sen. Roger Wicker, R-Miss., was planning to introduce legislation last week to hasten the settlement of claims when a home shows evidence of damage by both a windstorm and storm surge-driven water.
The move came a week after a separate bill in the House to incorporate wind coverage into National Flood Insurance Program policies was tabled.
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.