Ouch

Gonz

Gonz

molṑn labé
Staff member
You are hereby notified that if you live less than 6' above sea level or within 5 miles of the coast, you are unisurable. Enjoy it while you can.

NEW YORK (Reuters) - Advisen Ltd. on Tuesday estimated worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the cumulative catastrophe losses the largest on record.

By predicting unreported losses from State Farm Mutual Automobile Insurance Co., the largest personal lines insurer, as well as unreported and unfiled losses elsewhere, Advisen projects pre-tax insured losses per hurricane to be $40.4 billion for Katrina, $6.4 billion for Rita, and $10.8 billion for Wilma.

The losses amount to more than twice the annual total for other U.S. natural disasters and one-and-a-half times the losses from the 2001 terrorist attacks in New York and Washington.

Several variables could prompt Advisen's estimates to increase dramatically, the company warned. Flood losses could elevate Advisen's estimates by billions of dollars if lawsuits to force insurers to cover flood damage related to Hurricane Katrina are successful.

Also, hurricane-related pollution lawsuits could add hundreds to Advisen's totals, it said.

Advisen provides analytics and market information to the commercial insurance industry
Click to expand...
 
So? Unless I'm mistaken nobody is forced to live on a coast-line...except for those on military orders...
 
So? Did you miss this part?
$57.6 billion
Wanna guess who's pickin' up that tab?
 
Florida has had that set back for a few years now and am not surprised the insurence people are saying that. From what I have heard flood insurence is not easy to come by on the gulf states.
 
I live in a neighborhood one block from the St Marys River. There has never been a recorded flood that caused damage to homes that aren't on the riverbank. In order for me to get flood insurance, it would more than double my homeowners insurance.

Needless to say, I didn't buy it.
 
Gonz said:
So? Did you miss this part?
$57.6 billion
Wanna guess who's pickin' up that tab?
Click to expand...

IMHO, the insurance industry is only second to Congress in it's level of corruption. Now...if people paid for their insurance according to their risk, this conversation would be moot.
 
I don't live on Lake Lanier because the property is too much for me to afford....
Same diff here...If you can't afford it, you live somewhere else.
 
Winky said:
Gronzo I so got that beat.
I've paid for flood insurance on this house since 84 cuz

"I live supposedly inna fricken high risk FEMA Flippin' Flood Plain"

you remember, Phoenix? the middle of the Dee-sart?

http://www.floodsmart.gov/floodsmart/static/landing1.jsp
Click to expand...

Actually...you do have a good probability for flash-floods in Pheonix. Being a desert means there's no substantial plant-life to soak up the rainwater, so it pools, and rushes to it's lowest level. If you dig a moat around your house, say, 6 feet deep, lined with cement, you could probably erase those pesky insurance liabilities. :D
 
I do believe if I was going to live in a flood prone area, like NO., I'd
do like they do in Galveston, and put it om stilts, or a box-of railroad ties...
Then you just gotta worry about the wind.
 
You do realize that the only reason Galveston does that is becuase the whole freaking island was underwater in the 1900 hurricane, right? Just like NO, they thought they'd get away with it, and then mama nature taught them otherwise.
 
HomeLAN said:
You do realize that the only reason Galveston does that is becuase the whole freaking island was underwater in the 1900 hurricane, right? Just like NO, they thought they'd get away with it, and then mama nature taught them otherwise.
Click to expand...
yep, saw it on the history channel. :nerd:
 
Gato_Solo said:
Actually...you do have a good probability for flash-floods in Pheonix. Being a desert means there's no substantial plant-life to soak up the rainwater, so it pools, and rushes to it's lowest level. If you dig a moat around your house, say, 6 feet deep, lined with cement, you could probably erase those pesky insurance liabilities. :D
Click to expand...

True, if he lived in the outskirts. I did & we used to charge $20. to pull idiots off the roadway with our pickups.

He lives a couple of miles from my dads house (in the city, well in the city) & there hasn't been a flood in that area since before 1946 when my family bought the house.
 
You must log in or register to reply here.
Back
Top