Another Observer...........Thanks for the Eyewitness post. Hope you're right about minimal BRK exposure. I have no proof, but my sense of things gives me the feeling that the super cat industry is in for years of excitement. From an East Coast perspective, we've had lots of waterfront building since the 50's... expensive homes too!! There's just so many more folks that want to live on the water. My wife and I just took a month at Sunset Beach, N.C. In 1955 Hurricane Hazel flattened that island and it's been completely rebuilt!! Eventually the government and insurance companies are going to have to tell people that if they live in harms way they do so at their own risk.
>>. In 1955 Hurricane Hazel flattened that island and it's been completely rebuilt!! Eventually the government and insurance companies are going to have to tell people that if they live in harms way they do so at their own risk. <<
We should wise up and make it that when your oceanfront house is destroyed, we give you the money to rebuild, but say you *can't rebuild here. This was done to a whole town in the Mississippi flood plain in Missiouri, I think. They told the people, we'll rebuild the town, but upland, everybody moved about 8 miles away.
I think you're right.......Times Beach, Mo. maybe?? Years ago nobody would build on a barrier island except for hunting/fish camps, because you knew that every 5 years or so you would get wiped out. Then along in the 60s sometime the government said they would back up the insurance companies.....and bingo!! development became possible because you could now get insurance on ocean front property. Nowdays, thanks to the power of the real estate lobby I see houses literally falling into the surf at high tide. The beat goes on....