and the moral of this story is…
My good buddy, Tom Grail, told me the parable of Hurricane Ike Insurance Claims. To appreciate this, one must first understand that the total loss structures in Galveston and Bolivar receive uniform estimates of wind damage from the Texas Windstorm Insurance Association (TWIA). The amount of damage caused by wind for nearly every structure is approximately 11%. The reports are virtually identical for every total loss structure, despite differences in the age of the structure and quality of construction.
The parable is a story of two men, Larry and Moe, who were on the peninsula when Ike hit. Larry was struck by a flying 2X4 launched by the wind, then, when the surge came, he grasped a floating timber and made it to safety. He was treated for his injuries, estimated at 11% of his being.
Moe was not so lucky. He was killed instantly by a flying TV set. The storm surge subsequently swept his body away.
The medical examiner compared Moe’s corpse to Larry. After taking several months to consider the situation, the examiner declared that Moe was only 11% killed by wind, because that’s what happened to Larry. He opined that 89% of Moe’s death must have been due to flooding.
Merlin goes on to add: Continue reading “Merlin: The parable of Hurricane Ike insurance claims!”
Let’s hope this “f” means “fine” – as in everything will be just “fine” once we know more about him.
President Barack Obama on Wednesday tapped Florida emergency manager Craig Fugate to head the Federal Emergency Management Agency, turning to a Republican appointee who has steered the Southern state through numerous hurricanes since 2001.
In a statement issued by the White House, Obama said he plans to nominate Fugate who will help the administration “improve our preparedness, response and recovery efforts.”
Obama said Fugate will travel with Homeland Security Secretary Janet Napolitano to the Gulf Coast on Thursday to meet with local officials still struggling to recover from 2005 hurricanes.
Fugate, who faces Senate confirmation once he is nominated, has been director of Florida’s Division of Emergency Management since 2001, chosen by former Gov. Jeb Bush. He was retained by current Gov. Charlie Crist. Both governors are Republicans. Continue reading “OMG another “f” – Fugate to head FEMA (updated)”
That our fonts have turned blue? Normally I’m the quiet behind the scenes guy who trouble shoots such things here at slabbed but frankly this one has me stumped.
In other news Brent Warr announced he won’t be running for re-elction due to the fight to clear his name in USA v Warr. The FEMA charges will prove problematic for he and Mrs Warr IMHO.
The city must move on and with George Schloegel qualifying for the mayor’s race in Gulfport the City will be getting a great man with a lifetime of wisdom running Mississippi’s largest publicly traded company. George comes equipped with mucho business sense to hit the ground running and continue the task of rebuilding Gulfport’s beachfront and downtown. Uncle Leo would no doubt be very proud.
Wait a second Sop are you coronating George Mayor in advance of the election? The short answer is yep, sure am.
Finally the Grinch that stole Christmas is suing his former company AIG for imploding from the subprime Continue reading “Anyone else notice…..”
“People who played by the rules and expected insurance companies to play by the same rules got screwed.
Congressman Gene Taylor reintroduced bill that would allow federal government to sell wind coverage and Rebecca Mowbray has the story in the Times Picayune.
With the deadline for re-authorizing the National Flood Insurance Program extended until September 30, Mississippi Gulf Coast Congressman Gene Taylor reintroduced his bill to allow the federal government to sell wind coverage Tuesday.
“At this point, anything we can do to relieve people’s costs is going to be better than nothing,” Taylor said. “I remain convinced that the nation can do it and charge less than what the private sector is charging.” Continue reading “HR 1264 – One policy. One premium. One claims adjuster. Protecting America’s home & business owner. Protecting America’s taxpayers.”