Louisiana Wind-Water News: Courts Split on Wind Recovery When Paid on Flood

This is an interesting situation, how much wind insurance can an insured collect when they are tendered their flood policies? The courts have split on this issue and depending on the Hurricane, an insured can either collect the policy limits or have their wind recovery reduced by their flood payouts.  Such a legal mess would be prevented under a true multi-peril concept such as HR 3121 and taxpayers would not have to be worried about being stuck with a bill that should have been paid by private wind insurance.

Here are some exerpts from Rebecca Mowbray’s story: Continue reading “Louisiana Wind-Water News: Courts Split on Wind Recovery When Paid on Flood”