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Originally Posted by Klinglerware
I would think that because of the laws that require homeowners living in flood plains to carry additional flood insurance on top of their regular homeowners insurance, I would imagine that the insurance companies actually come out ahead in the long run...
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Since NO hasn't had this problem (hurricane related) in a long time, hopefully there's enough in escrow from various insurance companies to cover it. Theoretically, they've had to pay this insurance for years and years of esentially nothing, they should be able to cash it in now.
Of course the insurance companies will cry poor however.