[SkyPilot]

That assumes that the insurance industry can cover the losses. I have read some speculation that the losses may be so substantial that the Federal Govt may have to bail them out.

Correct. And Houston area already needs bailout funds because only one house in 25 had flood insurance. If there is a major earthquake or other such disaster in the US soon following Irma, I think the insurance industry would almost collapse.

[BunnySlippers]

As a [Los Angeles] California native and multiple homeowner, I can say that earthquake insurance is prohibitively priced. To the point that it is very rare indeed to find any structure that has it.