Editorial: Katrina may lead to government as property insurer of last resort

09/18/2007 | NewsOK.com

The devastation left behind by Hurricane Katrina, which made insurance companies reluctant to take on homeowners' polices in coastal areas prone to damaging storms, may signal a change in how the U.S. insures property against disasters. The federal government, through FEMA and other programs, is already a major player in disaster recovery. It is the only source of flood insurance. Will it one day be the property insurer of last resort?

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