Industry representatives say insurers have no intention of settling a suit by the Mississippi Attorney General and making payments for homeowners' hurricane storm surge damage where policyholders did not purchase flood coverage.
Speaking Wednesday in Houston, Attorney General Jim Hood called on insurers to settle a suit he has filed against them for not covering homes damaged by storm surge in the state.
Mr. Hood said that homeowners should not be penalized for not purchasing flood insurance when their homes were not in a flood zone. He said policyholders were under the impression that by purchasing hurricane insurance they would be covered for any events resulting from the hurricane.
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