[pepperdog]

This is something I just don't understand. In my neck of the woods a mortgage company requires you to have adequate insurance. If I were in the money loaning business I'd require my customers have adequate insurance. So why don't people who have mortgages, living below sea level in a place that is absolutely sure to have a flood, have adequate flood insurance? It's all a mystery to me.

[cerberus]

If I were in the money loaning business I'd require my customers have adequate insurance.

Some areas that flooded were not designated as being at risk of flooding on the federal flood zone maps. Therefore insurance was not required by lenders. The feds are currently redrawing the flood zone maps.