Private Insurance Policies

Are Insurance policies a scam if they do not honor policies holders as in Katrina?

Sorry no one would answer this question in insurance area.... Is there a list of Insurance companies that have not honored policies of Katrina? Is there a candidate who has addressed the insurance companies that do not honor policies, and why are they still allowed to exist?

Public Comments

1. Insurance policies are generally a scam, even if they arn't having Katrina issues.
2. The insurance policies did not include flooding due to levee damage. You got to remember, New Orleans is below sea level. If the homes were only destroyed due to flooding from rain, the policies would have been honored. The story is below.
3. dont know
4. Insurance by their very existence are a scam.
5. There has been a little scamming on insurance policies but the biggest point of contention are the policies themselves. Flood insurance is too expensive in a place like New Orleans so many didn't but it. They are trying to collect on the policies due to high wind when in fact their houses had been covered by water. No flood insurance...........no payoff