Posted On: October 1, 2007, 1:50 pm CDT

Posted By: Observer

As one who worked for one of the largest flood marketing companies, I believe the government can fix this through a partnership with the private sector. The feds should require all homeowner, business property and dwelling fire insurers to offer federal flood as an endorsement to every property policy and require a signoff for rejection. The private carriers would adjust the losses (both wind and water), which is how the carriers currently make money. One payment is then made to the insured for both causes of loss and then the two (public and private) entities can fight it out as to what was wind and what was water - after the property owner is made whole. If the property owner rejects the coverage in writing then they have only themselves to blame.