Mayor Bloomberg looks for alternative to flood insurance

Flood Insurance and reinsurance

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

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