Buzzword: Wind versus water
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Buzzword: Wind versus water
Gulf Coasters seeking shelter from a financial storm bring us this week’s Marketplace Money Buzzword: Wind versus water.
The phrase blew into public discussion after Hurricane Katrina.
Insurance companies told thousands of people that their property damage wasn’t caused by hurricane . . .
Winds.
But by flood . . .
Water.
This week a Mississippi judge decided against one family. He said their insurance policy clearly didn’t cover flood damage.
The family was seeking $150,000. They were awarded $1,200 for wind damage.
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