Rethinking flood insurance

The Telegraph Online: "Flooding from the failure of levees holding back Lake Pontchartrain, which lies several feet higher than much of New Orleans, has produced disaster. . . .

So vulnerable is the bowl in which New Orleans sits that one can only imagine what would have happened had the storm proved to be the Category 5 originally feared, instead of the Category 3 or 4 that it was, and had hit to the west of the city instead of the east.

How many of the thousands of damaged homes and businesses, some with water up to the rafters, are covered by flood insurance?

Homeowners insurance typically insures against wind damage, but insurance against floods must be bought separately. About 40 percent of homes in New Orleans have flood insurance, but only about 25 percent of nearby Mississippi homes do"
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