I had an e mail from a friend just back from giving a lecture in New Orleans. She calls the city forlorn. The devastation is so great that recovery will take years and years.
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ehBeth
1
Reply
Tue 7 Aug, 2007 10:48 am
Quote:
Big Insurers Win Ruling on Katrina Levee Break
The Associated Press
The Washington Post
Aug 03, 2007 12:00 AM EDT
Hurricane Katrina victims whose homes and businesses were destroyed after floodwaters breached levees in the 2005 storm cannot recover money from their insurance companies for the damage, a federal appeals court ruled yesterday.
The case could affect thousands of residents and business owners in Louisiana who are attempting to rebuild. Robert P. Hartwig, chief economist at the industry-funded Insurance Information Institute in New York, said in June that a ruling against the industry could have cost insurers $1 billion.
"This event was excluded from coverage under the plaintiffs' insurance policies, and under Louisiana law, we are bound to enforce the unambiguous terms of their insurance contracts as written," Judge Carolyn D. King wrote for a three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans
