All of these same problems occurred in the Oklahoma City area in 1999
when the F5 tornadoes came to visit. There were people there who had
paid off their houses years ago and once the required insurance was no
longer required, they dropped it. Some because they chose to and most, I
suspect, for financial reasons. And then there was nothing left of their
lives and no one to help finance the rebuilding. It was very sad. I
honestly don't know what happened to most of those folks. I hope the
people affected by this storm fare better.
And there were lots of insurance companies that pulled out of the state.
Some of the weaslier (new word?) ones before claims could even be filed.
Martha Krieg wrote:
I wonder how many insurance companies are going to go broke from this?
I'll bet they didn't charge premiums that would anywhere near cover
this kind of disaster, whether or not they have to pay for flooded as
well as blown-down homes and businesses and cars.
Hoping that in the rebuild, they use some sense and don't simply
rebuild it as it was, so far below sea level. Perhaps they could use
realistic, non-subsidized insurance rates to encourage people to build
structures in places and ways that will minimize damage. Also
realistically, however, the plans to rebuild with a better mix of
neighborhoods also means that the old neighborhoods will/would never
coalesce again as they were, leaving people feeling disoriented and
distressed, even if they are back in New Orleans.
--
Ruth
Omnia vincit Amor;
et nos cedamus Amori. ~ Virgil
To unsubscribe send email to [EMAIL PROTECTED] containing the line:
unsubscribe lace-chat [EMAIL PROTECTED] For help, write to
[EMAIL PROTECTED]
