From Insurance Journal:

“The NFIP is a textbook example of unintended consequences,” said Raymond J. Lehmann, director of Finance, Insurance and Trade Policy for the think tank R Street Institute. “While the program has provided incentives for mitigation, these have not gone far enough, and the availability of cheap flood insurance has played a role encouraging people to build in flood-prone regions.”

R Street’s Lehmann asked lawmakers to consider an additional idea to lessen the likelihood of development in flood-prone areas, which he noted will only make matters more difficult in future years as people need to be relocated as a result of sea level rise and climate change.