Quote:
Originally Posted by lio45
At that scale, it starts to make sense to self-insure: put those many millions of dollars per year into a quickly-rising fund (which you can even invest in things that aren’t too risky) and from time to time, spend $20 million on cleaning up after a storm surge, while saving money AND also being sure your insurer will never invoke some technicality to try to refuse to pay.
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yeah, perhaps the management company went that that route.
i don't know the specifics, just that when we spoke to my father-in-law, he made it sound like the money to rebuild will be there one way or another.