Flood Insurance Falls Short For Many Hurricane Sandy Victims
More than half of those who filed federal flood insurance claims after Hurricane Sandy hit the mid-Atlantic were paid enough to cover losses, records showed.
Benefits from federally subsidized flood insurance often did not pay victims enough to have their storm-damaged homes replaced, leaving homeowners stuck with vacant lots, The New York Times reported Saturday.
"I think flood insurance underpayments is the single biggest reason for why the rebuilding hasn't really taken off," said
The Times said records from the
The situation has left about 30,000 residents of
An official with the
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Source: | United Press International |
Wordcount: | 219 |
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