Katrina at Two Years: $40.6 Billion Paid on 1.7 Million Insurance Claims
National News • August 7, 2007
Two years later, the "overwhelming majority of claims" in Gulf Coast states from Hurricane Katrina have been settled in what has been the single largest loss — $40.6 billion — in the history of ...
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Subject: BTW
Posted On: August 9, 2007, 11:08 am CDT
Posted By: adjusterjoe
Comment:
I can think of one more example of concurrent causation with flood. The Houston, TX floods of early 90's when the oil piplne burst and the oil slick caught fire and burned the buildings from the flood line up. I think the oil company paid those claims though and let the carriers of the hook. The uncovered loss came first (flood) and then fire. Obviously the flood caused severe damage, but the homes could be built back. When the fire burnt the dwelling from flood line up, the buildings became non rebuildable from a covered loss. Should State Farm be able to tell the homeowners they will pay nothing in this scenario b/c of flood damage?
Subject: BTW