The cleanest approach would be to get rid of federal flood insurance entirely and let the private market price the risks of living below sea level or in flood-prone areas.

ECONOMIST: Hurricane Katrina

Yorkshire Water claims the station at Kingswood would provide five-times the level of flood protection for the area.

BBC: Yorkshire Water to appeal over pumping station plan

Scientists have gone ahead and started to map sea-level-rise scenarios in New Jersey, New York City and flood-prone communities along the Gulf of Mexico to help guide local development and planning.

WSJ: Map Plots Rising Seas Street by Jersey Street

The Elwy reached its highest recorded level breaching flood defences designed to cope with a one in 100-year event, says the report.

BBC: St Asaph floods cost council house insurers ?1m

If these improprieties had taken place at Goldman Sachs or Morgan Stanley, C-level executives would have been frog marched out of their office buildings in handcuffs and a flood of shareholder class action lawsuits would have been filed in state and federal courts across the nation.

FORBES: Is Wall Street Wrong About Con Edison? Probably.