Reply #5: One more year and this will be a moot point [View All]

[Boomer]

There's no excuse for flouting the law that specifies insurers MUST continue coverage until the grace period after rebuilding. I'm still puzzled that they are dropping coverage anyway, unless enough graft money has been coughed up to make them feel immune to prosecution.

But given the grim predictions for ferocity of the 2006 hurricane season, within the next year or two NO insurance company will pick up homeowners that have been hit by a hurricane. Insurers go by the numbers and the numbers under global warming are staggeringly expensive. There is no more profit to be had from insuring coastal property -- it's going to become a financial black hole.

This, if nothing else, may finally halt the suicidal development of vulnerable coastal land. Withour insurance there is no bank money, no development loans, and thus no development. As homes are destroyed, many people will have to walk away from the rubble, impoverished, to start over again somewhere they have a fighting chance to protect themselves from loss.