Tuesday, January 30, 2007

“Anti-Concurrent” *

Yield Sign, Baton Rouge LA 1/2007
all reproduction rights reserved Wm. Greiner

“Anti-Concurrent” is an insurance industry coined term, which basically means if your home is covered for wind storm damage but not flooding and both occur at or near the same time - the insurance company is going to assume the damage was all flood related! Therefore, the insured collects nothing or close to it!

How does this relate to the Gulf coast and those affected by the hurricane? How about 900,000 property owners seeking payment for hurricane damage may find little help from their hurricane insurance policies.

There is nothing mixed about those signals.


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