As flood threats rise, federal reform to diversify the insurance risk sinks
Apr.13, 2013 in
News
ClimateWire: It was a few hours before Sharron Voorhees was scheduled to sign a new home loan when her bank canceled the closing appointment because she had private flood insurance.
Two more cancellations followed, both on the morning of her closing dates, based on the bank’s concern that Voorhees had purchased coverage from Lloyd’s of London rather than the U.S. government.
“It just doesn’t look like a flood policy,” a loan officer told her last fall.
For months, the retired lawyer from a low-lying…
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