by The Associated Press
Published: Wed, May 07, 2008 - 7:17 pm CST
WASHINGTON (AP) - The Senate has rejected a bid by Gulf statesenators to add wind coverage to a financially strapped federal
program that provides flood insurance.
Lawmakers from Louisiana and Mississippi cited problems that
occurred after Hurricane Katrina and other big 2005 storms when
private insurers covering wind damage claimed that destruction to
property resulted from flooding.
That shifted the burden of payments to taxpayers.
But the Senate voted 73-19 today (Wednesday) against the
amendment by Senator Roger Wicker, a Republican from Mississippi.
It would have provided optional multiple peril insurance as part
of the 40-year old National Flood Insurance Program.
The Senate is debating legislation to bail out and overhaul the
program, which expires at the end of September.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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