Insurance News: Federal Emergency Management Agency (FEMA) rescinds rules

An insurance policy by the Federal Emergency Management Agency (FEMA) has been reversed.

This insurance policy would have left nonprofit and public entities with millions of dollars in the event of any sort of disaster.

Gil Jamieson is the associate deputy administrator for Gulf Coast recovery and he sai:

“We have rescinded that policy. It has caused a real furor down here. This was not the message we wanted to send to the business community.”

Many schools, museums and hospitals were furious after a sneaky memo appeared on the FEMA website, about the insurance policy.

What do you think of this insurance policy change?

How are these organisation going to get insurance now?

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