I feel the real "takings" is not just the fact that development was allowed in the first place but also the fact that people are not only given low cost loans, ala the tax payer, when they are flooded out but are also allowed to re-build right on the same flood plain piece of land.
Another "takings" is rip rap banks and bulk heads designed to channel water away from properties that just cause problems else where.
The "it's my property and I'll do what I want" just doesn't wash. Each of us are only here for a very short period of time but some of us feel that they can leave a lasting nasty legacy for many generations to come under the guise of private property rights.
In my opinion a new law is necessary. No shoring up banks or shore lines of any kind. If the water takes your home you will be compensated assessed value and you will move.