But Bobert - this was a "*500 year event." So if it costs *$3 billion to rebuild, amortized over the next *500 years before it's likely to happen again, that's only $11.41 per minute (not counting interest, of course).
Of course while we're waiting for the next "big one" in N.O., we'll have to do Fla *80 or *100 times, CA forest fires about *200 times, WA & CA mudslides *250 times ... but these are likely to all be little ones (individually, at least).
* = all figures I made up on the spur of the moment.