Steal2B
.700 Nitro Express
It is my understanding that no private insurance company would offer flood insurance to waterfront properties of the wealthy like this because of "adverse selection" but these owners can be covered by the government managed National Flood Insurance Program and essentially underwritten by taxpayers so Obama will not have to pay his fair share.another thing is, if "they know" that the water is rising, WHY WOULD BANKS LOAN THEM the money to buy the place??? why would insurance companies insure the place??