Number: RL33892
Title: Post-Katrina Insurance Issues Surrounding Water Damage Exclusions in Homeowners' Insurance Policies
Authors: Rawle O. King. Government and Finance Division 
Abstract: In the aftermath of Hurricanes Katrina and Rita, homeowners in Louisiana, Mississippi, and Alabama have protested what they view as inappropriate obstacles to the payment of their property damage insurance claims. When insurance adjustors and damage experts assessed the properties damaged by the 2005 storms, they were faced with the issue of allocating damages between wind (a covered loss) and flood (an excluded loss). The delays and economic uncertainty that this activity has engendered have raised financial and legal issues for insurers, as well as homeowners and businesses along the Gulf Coast region.
Pages: 29
Date: January 30, 2008