Included below are links to several news releases pertaining to the Insurance Industry in the wake of the recent hurricanes.

• Report on the National Flood Insurance Program having difficulties meeting it's responsibilities and may be dealing with a depletion of available funds. For additional information please click on the following link:

National Flood Insurance Program

• Florida class action lawsuit addresses the issue of whether insurers are responsible for flood as well as wind damage to insured properties. For additional information please click on the following link:

Insurers Fight Flood Liability Suit

As mentioned in the article, on June 1, 2005 Jeb Bush adopted legislature that modified Florida's valued policy law.  The recent legislature limits an insurers liability to damages caused by the covered peril only.  However, there is a provision stating that the valued policy law does apply when the covered peril would, by itself, have been sufficient to cause the total loss. To view a summary of the legislation please click on the following link:

Senate B&I Committee Summary of Property Insurance Package

• Mississippi attorney general discusses the state's lawsuit seeking to compel coverage for Hurricane Katrina wind-driven water damage claims. For additional information please click on the following link:

Lawsuit or Face Tidal Wave of Katrina Flood Claims, Hood warns

• Katrina Class Action Suit Filed Against Insurance Giant AIG (underwriters and service providers of Louisiana Citizens Fair Plan "FAIR" ). Suit claims Insurer has neglected desperate policyholders after the recent hurricane. For additional information please click on the following link:

Katrina Class Action Suit Filed Against Insurance Giant AIG

• Rep. Richard Baker (R-LA) criticized the Insurance Commisioners for the states affected by Hurricanes Katrina and Rita for the industry's response. For additional information please click on the following link:

Rep. Baker Scorned Regulators Storm Response 

Also discussed in the aforementioned report is the concept of a "National Catastrophe Insurance Plan". For additional information please click on the following link:

National Catastrophe Insurance Plan

• A recent report discusses delays in the adjusting of hurricane damaged homes due to political infighting and safety concerns. For additional information please click on the following link:

Political Bickering Slows Katrina Adjusting

 The aforementioned report concludes with plans for Dept. of Insurance Commissioner J. Robert Wooley lifting an emergency order preventing insurers from cancelling policies. For additional information please click on the following links:

Louisiana Dept. of Insurance Press Release

Louisiana Dept. of Insurance Press Release - Update