When insurers denied thousands of Hurricane Katrina damage claims in Mississippi on the basis of the flood exclusion, the industry was accused of holding to the letter, rather than the spirit of their policies, and of ignoring their moral obligation to policyholders, setting the stage for our next Question Of Ethics. Read on to get the question and file your comments.
The next NU Question Of Ethics is:
What are the ramifications of settling every claim based on a "moral" obligation? What is a "moral" obligation, anywayand does it extend to just victims of a catastrophe, or to all victims of unfortunate events, regardless of whether insurance was purchased?
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