A Lapse of what?
Flyers, New Orleans LA 7/2007
all reproduction rights reserved Wm. Greiner
FEMA says flood policies in Louisiana lapse! A large number of flood policies were sold in Louisiana after Huiricanes Katrina and Rita (approx. 100,000). About 15% of those have not been renewed, which FEMA cites as a high percentage.
Either people have short term memories , don't beleive their property can flood or simply cannot afford the added expense?