Does 'Harvey's' Flooding Of Houston Pose An End To Flood Insurance?
Scene of flooded homes just outside Houston after Harvey Struck.
Baca Juga
The question for lawmakers now is whether to designate a more comprehensive fix to return the NFIP to solvency, or merely attempt a temporary renewal. According to Sen. Bill Cassidy (R, La.) quoted in the article:
"From a public policy perspective, Hurricane Harvey reinforces the narrative of why the national flood insurance program is so important and needs to be addressed."
The WSJ piece notes that it will "take days if not months, for claims to emerge from Hurricane Harvey". Also, more than 200,000 homes could be at risk along the TX coast, this from information and analytics firm Core-Logic . Noteworthy also is that in 30 Texas counties there are nearly 450,000 policies covering $125 billion in insured value. More than half that value is in heavily populated Harris County.
Another aspect hitherto unmentioned is that a new Texas law goes into effect Friday which may toss all hopes of decent insurance payouts into the crapper. This law- House Bill 1774 - will make it harder for Texans to receive insurance payments.
0 Response to "Does 'Harvey's' Flooding Of Houston Pose An End To Flood Insurance?"
Post a Comment