Truly devastating for those whose homes have been flooded. The after effects can last for months and because this is all on such a large scale help will be spread very thinly.
Your right that our insurance premiums will probably go up but I believe that insurance companies factor these happenings in to their premiums already. Also several news reports have highlighted how many people don't have any insurance.
I've just been listening to the local radio giving information on how to get sandbags if you live near the River Thames, and also telling people to move stuff upstairs and prepare emergency food stocks (Sounds like a war zone). Yet here 15 miles away we have no effects whatsoever.