Texas floods highlight need to reform key insurance program
Well, this is interesting - America has a government mandated insurance scheme for those who own houses in 1 in a 100 year flood zone, but it is broke and (allegedly) encourages development on said flood plains.
Hence the libertarian inclined have something government mandated to point the finger at as contributing to bad investment decisions.
But it doesn't stop the fact that in places like Brisbane, the local council simply prevents new residential development on land that is below the 1 in a 100 year flood line (or if it allows a build, the design has to be such that living areas are above the flood line. Therefore, a raised house may be OK.)