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Meanwhile, the National Association of Realtors is hard at work appealing to Congress for a long-term re-authorization of the National Flood Insurance Program as this is the only option on an insurance level that would benefit suffering home owners. Congress
has historically denied long-term renewals regardless of the fact that most taxpayers, home owners and communities are in desperate need of such protection.
Insurance companies continue to brace themselves as losses have the potential to cost them one-quarter's earnings. Companies who are likely to be most effected include RenaissanceReHoldings, Travelers, Berkshire Hathaway, Everest Re Group, Allstate,
Chubb and Arch Capital.