Katrina in 2005 damaged [read: ruined] 500-600,000 vehicles.
- Houston today is roughly 5x the size of New Orleans then.
That could mean 2.5 to 3 million damaged cars [ruined redux: think of all the electronics in new cars today].
Not just the cars, but insurers (and their insurers-the reinsurers) could be taking a big financial bath on this one.
- Bailouts for insurance companies?
- A 'Cash for Dunkers' program?
Not an ideal solution to manufacturer channel-stuffing and the huge glut of unsold new 2017 vehicles on dealers lots though.
This is worth watching in future....
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