Insurance: On 4/17 there was an article in the Island Packet by Jim Faber regarding Insurance. It mentioned that Allstate Insurance will renew about 2,300 of the 12,000 coastal homeowner policies that it had announced as cancelled in Dec....BUT, those customers will have to get their wind coverage through the SC Wind & Hail Underwriting Assoc - the state wind pool. That coverage will be excluded from the renewed policies.
Another article, in the Beaufort Gazette on 4/22 covered the fact that Katrina cases are just now reaching the courts. It states that, “the U.S. District Court now has 669 Hurricane Katrina lawsuits pending.” Apparently some of the problems stem from ambiguous policy language regarding wind vs. water damage which “purports to say wind is not covered when water contributes.”
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