I am a little confused about america's insurance giants?

Question

when Katrina hit, everyone assumed most of the people with insurance would get thier claims processed without any strings attached right I mean it was a cat 3 if not 4 hurricane that had sustained winds of 135 mph right? It is common knowledge that those winds cause the storm surge but now the big insurance giants are trying to get the government to save thier ( bleep!) because the insurance companies call most of the damage flood damage this way they can weasle out of paying up by putting the pressure on fema and claiming that they can't tell the difference between wind and flood damage, this is your chance to answer this question for me
why do we allow these scam artist to even try this crap, should there be a federal law saying if the damage is caused by a hurricane( and it's 135 mph winds which led to biloxi miss being scoured off the map, ) the insurance companies must payup or face having their ASSetts sold off to compensate those whodeserve it the people who have paid

Answer 1

This is another example of why Reagan's deregulation, while nice in theory, is detrimental to the American people, in practice.

The great Teddy Roosevelt said that government regulation of Big Business is necessary because without it corporations would virtually enslave the people of the United States.

Teddy Roosevelt was right.

Answer 2

NEWS FLASH! NEWS FLASH!

There is no such thing as an ins policy in the US which is sold without the wording of that policy having been approved by the Insurance regulators in the state in which it was issued.

Why is it that whatever you do not understand is a scam, or that when an ons co rejects a claim because the loss isn;t covered they're just trying to weasle out of paying a claim.
Since the regulators didn't do their jobs, they're forcing the ins co's to cover the claims. Now what happens? The ins co's simply pull out of a state, and no one there can find insurance, and if they do, they can't afford it.

News flash! News flash! You are learning what happens when we depend on the govt to take care of us.

Answer 3

That's just business. Quite frankly, I knew YEARS ago that New Orleans would pretty much drown if a hurricane of significant size hit it. I knew that as a 4th grader. It really was a no brainer! Why morons ever lived there, I'll never know. I have no sympathy.