How does the Multiple Peril Insurance Act solve this “inherent conflict of interest” in the NFIP?
The Multiple Perils Insurance Act solves the water/wind debate. One policy. One premium. One claims adjuster. Through permitting America’s homeowners to purchase one insurance policy for wind and water damage, the Multiple Peril Insurance Act of 2009 removes the opportunity for insurance companies to defraud the federal taxpayers. If a property is damaged by wind or water or a combination of the two, a homeowner will be paid for the damage. By eliminating the conflict of interest inherent in the status quo, America’s homeowners will no longer be required to hire lawyers and engineers to bring legal action against their private insurance carriers and wait for years to receive the claims check that should have been cut in a matter of days or weeks.
