Senate says no to Federal windstorm insurance

by Artemis on May 8, 2008

The Senate yesterday rejected an effort to include windstorm insurance in the federal flood insurance program warning that the addition could overwhelm the program.

There is still some hope for homeowners as there is a further amendment which is unresolved, this calls for a quasi-public catastrophe bond program to be set up to endeavor to help States back up their own catastrophe insurance programs.

More on this story from the Palm Beach Post.

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