October 19, 2005

From the Times Picayune  (10/19):

Sen. Trent Lott, R-Miss., said he was "a little apprehensive" about Taylor's insurance buy-in bill.[*]  Lott said he supported setting up a disaster fund to cover uninsured damage in future disasters, an idea that insurance companies have pushed for years. But Lott said that the industry should bear a financial burden for residents who thought their homeowners' policies covered hurricane flood damage.

If insurance companies don't do it willingly, Lott predicted, the lawsuit filed by Scruggs, his brother-in-law, could force them to.”

 * A bill that would allow those not on flood maps and who had flood damage to obtain retroactive insurance for a hefty fee and a promise to stay in the flood program.  (See previous discussion here.)