Tag: Gulf Coast Wind Insurance

The Sun Herald Remembers Katrina plus 5: Katrina anniversary coverage miscellany

John Fitzhugh / The Sun Herald

The Sun Herald has extensive coverage of Hurricane Katrina for the 5th anniversary of the storm. Here is a quick roundup: 

State Senator David Baria, who represents Katrina ground zero, wrote an excellent guest Op-Ed for the Sun Herald. He covers the insurance problems and the failure of the state’s leadership to solve the problems with the dysfunctional wind insurance market and how that has hindered our post storm recovery. He points out the 6 coastal counties supply 35% of the state’s tax revenues which makes our insurance problem a state wide problem. 

Tammy Smith looks back on one million coast Katrina recovery volunteers (and counting) and chronicles a group on the coast now from Bucks County Pennsylvania.  The good people in Bucks and Montgomery Counties Pennsylvania have true angels for the people in Hancock County since the storm. Continue reading “The Sun Herald Remembers Katrina plus 5: Katrina anniversary coverage miscellany”

Sup chips in with the evolution of private market wind coverage on the Gulf Coast

I’ve had the pleasure of chatting with Sup offline and the last email he sent me deserved a guest post on its own. Never let it be said we leave out a point of view. Our offer to Mr. Chaney to join former Louisiana Insurance Commissioner Jim Brown authoring guest post here stands as well. – sop
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It is my desire to provide readers of “Slabbed” an unemotional and, hopefully, logical perspective from the industry viewpoint. I recognize the MS Gulf Coast is so different from other coastal areas. In fact, I work on the SC Coast and that is a different world. The MS Coast has always been “blue collar” and the gaming industry must be considered a “blue collar” industry for the great majority of workers. Therein is where the dilemma is.

If you allow me I will try to give you some insight as to how the industry looks at the situation. My first management position was in Underwriting in the early 1970’s. Part of our responsibility was MS and LA. We spent most of our time concerned with the LA coast as at that point the MS Gulf Coast was still trying to recover from Camille. LA was happening because of the oil business. My company began growing like crazy in coastal LA and we had a “worst nightmare” scenario. It was exactly the track Katrina took and we were right over thirty years ago. Continue reading “Sup chips in with the evolution of private market wind coverage on the Gulf Coast”