by mikekim2455 » Thu Jun 10, 2010 08:16 pm
Fema recently announced that if a flood were to occur, and people were to realize damages to their homes or commercial buildings from the flood waters, coverage WOULD apply even if the water was mixed with the oil from the BP spill.
I wanted to give a thumbs up to FEMA for not passing the buck. They did note that they would go after BP for reimbursement for any claims they paid that covered damage caused by water mixed with the oil. This is great, pay the insured parties then go collect from BP. Don't put the responsibility on the insured parties to chase the money down themselves.
I wanted to give a thumbs up to FEMA for not passing the buck. They did note that they would go after BP for reimbursement for any claims they paid that covered damage caused by water mixed with the oil. This is great, pay the insured parties then go collect from BP. Don't put the responsibility on the insured parties to chase the money down themselves.
Posted: Fri Jun 11, 2010 10:21 am Post Subject:
It certainly seems like a good thing for the insured. I hope it will be applicable for all states since it's announced by Fema.
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