While doing a gig for Nationwide years ago I got to see how difficult insurance is for coastal areas. Flood insurance has paid out way more claims than money they had in the tank long ago. Alternative capital investors rushed into this market the last few years causing enough competition that rates barely moved but now these rates are being adjusted on a risk basis which means things are about to get a whole lot more expensive. It’s simply a delay in the movement of the market but the damage has been done and there is no turning back now. So yes, you are correct.