Risk & Insurance Online - The Day the Dike Breaks

Regarding Lake Okeechobee and the Herbert Hoover dike MUST READ - click title for link. From the article:

WHO SAW THIS ONE COMING?
To the question, "Who saw this one coming?" the answer is, nearly everyone who was paying any attention.
The above situation has already been envisioned by the Florida Division of Emergency Management, which published just such a scenario for emergency planning purposes in May of 2008.
Other agencies in Florida are also on the case.
A study commissioned in 2006 by the South Florida Water Management District concluded that the Herbert Hoover Dike, which holds back the lake water, poses a "grave and imminent" danger of collapse.
The problem, according to an analysis of the situation by Lloyd's of London, is that the dike is performing a task for which it was never intended. The dike is composed of earth next to Lake Okeechobee that was merely shoveled up into walls as high as 30 feet.
The decision was made in the 1970s to use the lake as a drinking water reservoir. This called for the maintenance of much higher water levels than the dike was ever intended to hold.
According to Lloyd's, the Herbert Hoover Dike is being asked to function as a reservoir dam, when from a technical perspective, it isn't a dam.