After reading Heber Taylor’s editorial (“A good bill, but not a real solution to flood insurance,” March 6, The Daily News), it got me thinking. If flood insurance goes as high as predicted, it will make a ghost town of the Gulf Coast. People will have to move inland and start over again.
Most will not be able to afford the expense of rebuilding or the expense of traveling to work at the refineries. Most will have to find jobs closer to home. The refineries will be forced to stop production and become import-export only. That will drive the price of fuel up more.
The Texas economy will go down the drain.
To overcome the insurance companies’ deficit, they should discontinue the tens of millions in bonuses they pay to their CEOs, then the flood insurance wouldn’t have to go up.