[movermike] movermike: Hurricane Katrina Insurance Claims

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Posted by movermike:
Hurricane Katrina Insurance Claims
http://www.movermike.com/posts/1186518435.shtml


   Why are the tall buildings home for banks and insurance companies?
   That's where the money goes!

     [1]Paul and Julie Leonardâs home was damaged by Hurricane Katrina
     in 2005. The couple estimated the total damage to their home at
     $130,253. But Nationwide only paid the Leonardâs $1,661.00, saying
     that most of the damage to the home was the result of storm surge.

     In 2006, the Leonards took Nationwide to court. Their case was
     heard by U.S. District Judge L.T. Senter Jr, and was held without a
     jury. Senter ruled that Nationwide was not responsible to pay for
     damage from Katrinaâs storm surge, however, he did order the
     insurer to pay the couple an additional $1,228 for wind damage.

     On Monday, the court upheld the dismissal of lawsuits filed by
     another group of Katrina homeowners who said that Louisiana law
     required insurers to pay for the full value of wind damaged homes,
     even if a flooding was responsible for the homeâs destruction. The
     5th Circuit said that Louisianaâs Value Policy Law does not apply
     when a covered peril like wind is not solely responsible for a
     homeâs destruction.

     And last week, the court ruled that insurance companies do not have
     to pay for damage that resulted when floodwater from broken levees
     destroyed homes and businesses in New Orleans. That decision
     overturned a ruling by a U. S. District Court Judge that found in
     favor of the homeowners. In that case, the judge had ruled that the
     flooding caused by the levee failure was a manmade disaster that
     insurers were obligated to cover. The 5th Circuit court said that
     insurers do not have to pay for flood damage, even if it was not
     the result of an âact of God.

   [2]Katrina [3]Insurance [4]Mover Mike

References

   1. http://www.newsinferno.com/archives/1688
   2. http://technorati.com/tag/Katrina
   3. http://technorati.com/tag/Insurance
   4. http://technorati.com/tag/Mover+Mike