What Flood Insurance Does and Does Not Cover

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After heavy rains caused the breach of two dams in mid-Michigan last month, thousands of residents around the overflowing Tittabawassee River and adjoining lakes saw their homes and communities inundated, and destroyed, by floodwaters.

Now, news reports say, many face rebuilding with little financial help. Their homeowners insurance won’t pay for most of the flood damage; that’s what flood insurance is for. But because the Michigan homeowners weren’t living in an area known to be flood-prone, most didn’t have that coverage.  

If you don’t have flood insurance and you’re hit by a flood, the damage can be costly, says Lizzie Litzow, a spokesperson for the Federal Emergency Management Agency (FEMA). “Flooding is the most common and costly natural disaster and can happen anywhere,” Litzow says. “Just 1 inch of water can cause up to $25,000 in damage to

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Corporate America’s plan to fight racial injustice: form a committee

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Corporate America plans to fight for racial equality and justice by forming a committee, the nation’s largest business lobby announced on Friday.

Related: Trump’s comment ‘this is a great day’ for George Floyd draws immediate outrage – live

The Business Roundtable’s effort arrives amid a rash of corporate statements in support of the nationwide protests demanding an end to systemic racism following the police killing of George Floyd.

The statements have been met with skepticism because of the long history of big business perpetuating racism by paying low wages, failing to promote people of color and campaigning against unions.

Walmart’s chairman and chief executive, Doug McMillon, is chairman of the Business Roundtable, and said customers, employees and communities were looking for businesses “to act now”. 

“Having spoken to many CEOs of America’s leading businesses, I know they share my conviction that this is a time to act to address racial

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