As I noted in an earlier posting, serious problems will surface in LA when the reality of no insurance for many of the estimated 60,000 homes damaged is fully realized.
See: Louisiana residents without flood insurance face uncertainty. Some details:
In Louisiana, an estimated 42 percent of homes in high-risk areas have flood insurance, according to FEMA. Only 12.5 percent of homeowners in low and moderate-risk zones do.
Many of the areas hit hard by record rainfall last week were not considered at high risk for flooding.
Those residents without flood insurance are eligible for up to $33,000 in FEMA individual disaster assistance funds, although most will likely receive less than that, based on payments following other major disasters.
After Hurricane Katrina in 2005, FEMA paid $6.6 billion to approximately 1.07 million households and individuals in Louisiana, Mississippi and Alabama, an average of just over $6,000 per grant, according to agency figures. Superstorm Sandy in 2012 produced an average payout of under $8,000 for about 180,000 residents of New York and New Jersey.
NOTE: See comments from Ed Thomas, President of Natural Hazards Mitigation Association.