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Louisiana insurers breathed a sigh of relief last week when the 5th U.S. Circuit Court of Appeals upheld their flood exclusions, ruling that just because damage in New Orleans following Hurricane Katrina might have been caused in part by a human failure to maintain adequate levees, that did not mean carriers were on the hook for coverage. The legal maneuver was clever, but it was clearly a stretch, and thankfully for carriers, common sense prevailed in court for a change.Recommended Stories
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The Future of P&C Insurance: The Race to Contain Costs Amid Rising Catastrophic Losses
The P&C insurance sector is currently facing challenges. This eBook outlines the most pressing problems, the most promising solutions, and a few examples of these principles in action.
Case Study
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Revolutionizing Claims Processing: How a Leading Insurer Transformed Water Mitigation Reviews
Discover how one insurer drastically improved the efficiency of their water mitigation claim reviews, reducing costs and time while enhancing decision-making. Learn how this approach can transform your claims process, making it faster, more accurate, and less resource-intensive.
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Distribution Channel Management Assessment
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