Congress' watchdog, the Government Accountability Office (GAO), recently reported that much of the funding earmarked to help businesses get back on their feet in New York City after 9/11 was either lost or wasted. Now Congress has voted to "unfund" agreat deal of unused 9/11 aid. Few professional risk managers predicted or planned for the battering suffered by Florida-based businesses in 2004, and few businesses in the Gulf region could have predicted or obtained insurance against the tremendous damages produced by Hurricanes Katrina, Rita or Wilma. Fortunately, when risk management fails and insurance proves inadequate to cover a business' losses, there are always our federal tax laws to help ease the financial strain.
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