Financial Risk Specialists Inc. of Indianapolis, Ind., has introduced DIREC, a new disaster recovery insurance product for debris removal.
DIREC provides municipalities, cities, states and, in some cases corporations, insurance coverage for debris removal in areas declared by the Federal Emergency Management Association (FEMA) and the president as national disasters. DIREC is now available in each FEMA region for all federally declared disasters.
The product offers the local governmental entities coverage for debris removal to assist with the costs and clean up after a natural disaster. The policy covers the removal of debris from public areas to facilitate the clean up process and expedite the restoration of normal services.
For example, if a city or state has DIREC coverage and qualifies for FEMA assistance, most of the shared cost of debris removal will be covered.
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