"Another provision of the revamped flood insurance program phases out subsidies on what are called repetitive losses. 
"These are properties that have been flooded and rebuilt more than once and have repeatedly received flood insurance payouts." 
Hopefully, this will also apply to those who build on the coast.  Let's admit it folks, barrier beaches are transient.  They move from place to place at the whim of wind and water, so it's past time that people understood that anything you build on a barrier beach is transient, too.  Anyone who wants to place a structure on shifting sand shouldn't expect the taxpayer to subsidize his folly.  Particularly since, after they buy the place, his first act is usually to try to find ways to keep the public as far away as possible from his new property.
Let's rationalize flood insurance first, then take on the biggest boondoggle of all:  Beach "renourishment".