Tag: hurricane katrina statistics

Mississippi Supreme Court Upholds $15M Compensation in USAA Hurricane Katrina Dispute

Ben Jones
Mississippi Supreme Court

Insurance News – Mississippi Supreme Court Ruling Nearly two decades after Hurricane Katrina devastated the Gulf Coast, the Mississippi Supreme Court has reached a decisive conclusion in a high-profile case involving the United Services Automobile Association (USAA) insurance company. The court ruled in favor of the Minor family, ordering USAA to pay $15 million in punitive damages and legal fees over allegations of bad-faith conduct towards the policyholders. The ruling marks the culmination of a long legal struggle over claims tied to the destruction of the Minor family’s historic Ocean…

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National Flood Insurance Program coming to an end if Congress does not act by the end of the month

H. Cutner

With flooding disasters wracking much of the Mideast and Southern U.S. more attention is being aimed at flood insurance. As more homeowners seek out the coverage they are finding that it can be quite expensive, especially for those living in places of high risk as designated by FEMA. The high cost of location-sensitive policies can put insurance coverage out of the financial reach of many. For these people, the National Flood Insurance Program can serve as a safety net between them and being uninsured. The program, however, is failing. To…

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