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Flood
Exclusion Assaults Could Cost Katrina Insurers
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A
view of the badly flooded city of
New Orleans |
If private attorneys and government officials
succeed in stripping policies of their standard
flood exclusions, insurers could end up paying
out billions more than their exposure models
predicted for hurricane losses due to Katrina,
according to industry officials.
One crucial battle for insurers
defending their policies will be fighting
a lawsuit filed
by Mississippi Attorney General Jim Hood. That
action—along with other lawsuits—seeks
to require the industry to pay homeowners flood
claims, arguing that the language used to exclude
flood damage is vague.
William E. Bailey, special
counsel for the Insurance Information Center
and head of the
Hurricane Information Center in Jacksonville,
FL, has stated that “if that judge [hearing
the Hood lawsuit] decides in favor of the attorney
general, you [the insurers] will not know what
your liabilities are.”
more>>>
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November
Birthdays |
| Corey
Chambliss |
4
|
| Robin
King |
4
|
| Kim
Edsall |
17
|
| Greg
Pierre |
22
|
| Donna
Shenesky |
27
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December Birthdays |
| Charlene Betz |
11 |
| Stacy Sanders |
13 |
| Rhonda Melvin |
18 |
| Regina Murphy-James |
23 |
| Carl Legate |
30 |
| Elaine Senner |
31 |
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November
Anniversaries
|
| Kaye
Phillips |
6
years
|
|
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December Anniversaries |
| Carl Legate |
3 years
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| Talking
with Charlene Betz
Underwriting Department, Home Office
How
long have you been with the company? It will be nine years the end of January.
What
did you do before you started working here? I worked in Louisiana at a bank in the trust
department. I did the balancing and investing—buying
and selling of mutual funds and stocks. I did
that for 3 or 4 years, but I was at the bank
(First National of Houma) for 17 years. Then,
my children moved to Birmingham—all three
of them. My oldest daughter married a boy whose
family lived here. When my son graduated from
college—he sent resumes everywhere and
it just happened that the best job offer was
here. Then, my other daughter’s husband
transferred to Birmingham. All three of my children
were here, so my husband and I decided we should
move here too.
What’s
your favorite part of your job? I just enjoy
working. I like all of it.
What
do you do in an average day? After coffee…Right
now, we’re short-handed so I’m doing
a lot of things that I normally don’t do.
I do any requested loss runs as soon as I get
here in the morning. I also do the assigned risk,
but we don’t get those every day.
more>>>
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By
The Numbers
click here for larger graphs
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Some
FAQ's About Coal
What
Is Coal? Coal is a burnable carbonaceous
rock that contains large amounts of carbon.
Coal is also a fossil
fuel—a substance that contains the remains
of plants and animals and that can be burned
to release energy. Coal contains elements such
as hydrogen, oxygen, and nitrogen; has various
amounts of minerals; and is itself considered
to be a mineral of organic origin.
How Was Coal Formed?
Scientists believe that during the Carboniferous
period (280 to 345 million years ago) large
amounts of plant life and other organic matter
grew in the swampy areas and lagoons that covered
much of the earth. As the plants and other
life forms died, they drifted down to the bottom
of the swamps, slowly decomposed, and formed
peat—a soggy, spongelike material. The
peat became buried and compressed under the
earth's surfaces over a long period of time.
Over millions of years and through the forces
of heat and pressure, the compressed peat became
coal. The greater the heat and pressure, the
harder the coal was that formed.
more>>>
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Our
Office Will Be Closed
Nov. 24th & 25th for Thanksgiving
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CGH
Insider Editoral
Email
us with any thoughts or suggestions, compliments
or complaints.
Joe
Watts, Editor
Bryant
Brown,
Associate Editor
Sylvia Wilkins,
Associate Editor
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