The Challenges of Disaster Insurance

As Texas begins the long process of recovery from Hurricane Harvey, and Florida braces for a possible hit from Hurricane Irma, too few victims will have the financial support of insurance payouts. Insurance should be a critical component of disaster recovery. Federal disaster aid grants are surprisingly limited, often not more than a few thousand dollars, and it often takes months or years to get into the hands of victims. Small Business Administration loans can be obtained to help finance recovery (for households, as well as businesses), but for fast money for rebuilding, there is no substitute for insurance.Read More