Our associate editor, Mark Ruquet, came up with a brilliant column in this week's edition of NU, speculating on how differently life might have turned out for Sen. Trent Lott and the insurance industry had the Mississippi Republican–who lost his house in Hurricane Katrina–gotten his coverage through an independent agent rather than a direct writer.
Mark's key point (click here to read his complete column) is that while Sen. Lott had flood insurance (and collected on his policy), if he'd gone to an independent agent, he might have been more likely to have been counseled to get excess flood coverage from a private carrier, which would have kicked in after his federal insurance had maxed out, leaving him well short of what he needed to replace his home.
Had the senator had such excess coverage, Mark suggests, he might not have gone ballistic after his homeowners' carrier–State Farm–declined to pay for any damages because of the standard flood exclusion and anti-concurrent-causation language in his policy.
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