More in Katrina zone go uninsured:
Facing soaring premiums or feeling shortchanged by their insurers, a growing number of homeowners and businesses in Louisiana and Mississippi are “going bare,” or dropping their coverage altogether, insurance agents and consumer advocates say. Many more are drastically reducing their coverage.
...
With the new hurricane season beginning June 1, it is a risky strategy. These people could lose everything in a storm or some kind of tragic accident around the house.
From the cold-blooded environmental economic perspective this is great news. The price of insurance, an increased 13%, is better reflecting the risk of living in coastal areas. Future coastal development might go down. And, economists are, generally, big jerks.
Hat tip: dancing carpenter.
