What\’s wrong with not writing TX tier 1? There are lots of other flood prone areas in Texas that have nothing to do with hurricanes. Just look toward the Guadalupe River with its million dollar mansions that get flooded every 3 years.
This seems strange that Chubb wants to insure flood, but will not write homeowners in 1st tier Texas counties because they do not want the wind exposure.
What flood zones are excluded? Also, what is the time frame for the roll out by state?
What affect do you think this offering will have on pening Katrina law suits where state Attorney Generals are suing the insurance industry over eclusions for damage due to flood?
Some companies offer flood insurance with comverages starting after NFIP limits are met. Essentially, there is a $250,000 deductable (for residential). Some even offer it if the building is outside of the FEAM IDd A or V Zone. How does the Chubb coverage measure up?
Won\’t \”basement\” coverages encourage unwise use of risky areas? It\’s my understanding that new buildings must be elevated in A & V Zones and uses are limited in the underareas. Offering coverages for home theaters and such might just open up an abyss of contention between homeowners and their communities (codes).
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What\’s wrong with not writing TX tier 1? There are lots of other flood prone areas in Texas that have nothing to do with hurricanes. Just look toward the Guadalupe River with its million dollar mansions that get flooded every 3 years.
This seems strange that Chubb wants to insure flood, but will not write homeowners in 1st tier Texas counties because they do not want the wind exposure.
What flood zones are excluded? Also, what is the time frame for the roll out by state?
What affect do you think this offering will have on pening Katrina law suits where state Attorney Generals are suing the insurance industry over eclusions for damage due to flood?
Some companies offer flood insurance with comverages starting after NFIP limits are met. Essentially, there is a $250,000 deductable (for residential). Some even offer it if the building is outside of the FEAM IDd A or V Zone. How does the Chubb coverage measure up?
Won\’t \”basement\” coverages encourage unwise use of risky areas? It\’s my understanding that new buildings must be elevated in A & V Zones and uses are limited in the underareas. Offering coverages for home theaters and such might just open up an abyss of contention between homeowners and their communities (codes).