Odyssey RE Holdings (38, ORH), the reinsurer backing a sizable amount of property coverage in the region.

FORBES

Such percentage-based deductibles long have been used for earthquake coverage in California and property coverage in hurricane-prone coastal areas.

WSJ: Getting Going: Insurance Deductibles Soar

Only about half of property owners in New Orleans hold flood coverage, and even fewer in hard-hit patches of Mississippi and Alabama.

ECONOMIST: When government fails