The unprecedented flooding along the Mississippi is producing some rarely seen events throughout the Delta basin, but the impact of these events on the commercial side of the property and casualty industry will probably be minimal, say observers.
Flooding along the Mississippi has been so intense that for the first time in close to 40 years the Morganza Spillway was opened, potentially affecting 2,500 people and 2,000 structures as water spills into the Atchafalaya Basin.
Cities, towns, homes, and thousands of acres of farm land have been flooded in the past weeks as the combination of heavy rains and melting snow has led to serious flooding down river. Despite the devastation, the insurance industry at this point says there is little evidence that this will have a catastrophic impact on the industry.
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