A couple items of interest:
- State Farm’s agreement to voluntarily re-evaluate Katrina claims in Mississippi has resulted in additional payments to policyholders of $29.8 million, according to this story in the Sun Herald.
- Here’s a kind of run-of-the-mill story about some people from Congress visiting the Gulf Coast to check up on Hurricane Katrina recovery, but these two paragraphs really jumped out at me:
The delegation later told a crowd of about 500 in Bay St. Louis that a vote could come in September on a bill aimed at improving the insurance problems that Gulf Coast homeowners have experienced since Katrina.
Rep. Gene Taylor, a Mississippi Democrat, has proposed adding wind coverage to the National Flood Insurance Program, which was created in 1968 to help homeowners living in flood-prone areas get flood insurance to complement private policies. Taylor said he did not know the cost of providing wind coverage.
"He did not know the cost of providing wind coverage." That’s the kind of federal program I’m sure we all like to see, one with open-ended or unknown costs — hey, why not, the country’s swimming in money, let’s just toss some of it around and see what happens.