Two government agencies investigating the handling of flood damage claims in the aftermath of the 2005 storm season offered stern criticism of both the insurance industry and the Federal Emergency Management Agency at a hearing on Capitol Hill yesterday.
The negative comments came at a joint hearing of the Oversight and Investigations Subcommittees of the House Financial Services and Homeland Security Committees.
A main concern was that insurers operating under the Write-Your-Own aspect of the National Flood Insurance Program could have pressured adjusters to determine claims were the result of flooding, ignoring wind damage for which insurers could be held responsible.
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