One of the most ludicrous fantasies of the self-indulgent is that a property owner has an entitlement of subsidized government flood insurance. The inherent risk of building along the ocean shoreline is self-evident. The benefits that enhance the pleasure of proximity to the seaside seem unending. However, when the forces of nature thrust her fury and a wall of water inundates pristine dwellings, the first question asked after the storm usually involves rebuilding. The cost of repairs and renovated construction, once paid by private insurance, now normally requires a federal guaranty.