August 24, 2006
Unhappy Anniversary For Katrina Victims
The results from the first anti-insurance company lawsuit are still hurting the people who’ve lost their homes and much else. But is the media overdoing it when it paints insurance companies as the villain? Businessandmedia.org reports:
Since the first suit was filed, the media have ignored or downplayed the flood exclusion in private contracts, even though the government’s NFIP has offered flood insurance since 1968. Private insurers can’t compete in price with the federally subsidized program…. Insurance companies have been cast as Big Business out to stick it to already-traumatized homeowners.
Read more: Unhappy Anniversary: Katrina Insurance Battle Continues
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