Posted On: November 11, 2005, 1:05 pm CST

Posted By: Don Hester

I am surprised that the Trade associationhasnt also asked for replacement cost provisions to be applied evenl to all residential structures. Currently only residences occupied year round [technically I think it is 270 days a year] are eligible for replacement cost adjustment. This is obviously discriminatory practice has no actuarial basis but is merely reflective of the political unpopularity of providing fair and equal treatment to those who are fortunate enopugh to own a second home.
I also have been advised that while the rest of the nation who make mortgages in A and V zones must take flood inmsurance, the Govt makes exceptions for those behind federally approved and constructed levees. Perhaps this explains why so many in the Katerina catastrophy had no coverage? Can anyone document this
as accurate? If Accurate ,perhaps this will be resolved in the future by some of the stated reforms