They own soggy land! Give them money!

Spotted by Mombers in The Telegraph:

Some new victims of flooding have seen premiums soar by up five times, while others have been told they must pay the first £5,000 of any future claim.

Following talks in 2008 between the Association of British Insurers and the government, insurers agreed to continue to provide cover to almost all homes provided improvements to flood defences were implemented, yet it was made clear that contracts would not be renewed beyond June 2013...

However, speaking in the House of Commons last week, Caroline Spelman, the Environment Secretary, reassured the flood victims that she was confident that a resolution was soon to be reached.

She said: "We are at an advanced stage in intensive and constructive negotiations with the insurance industry on alternative arrangements for when the statement of principles expires this time next year."

Hey, here's a cunning plan - seeing as having proper flood defences* often works out much cheaper than repairing individual buildings (which in turn works out cheaper than paying for insurance), why doesn't whoever it is in charge of flood defences work out what the cost of maintaining those flood defences is going to be and ask the owners of the affected land to chip into a common fund, pro rata to the value of the land and buildings which they own, to finance it? Sort of like Land Value Tax?

* Which is all mundane stuff like making sure rivers are dredged, drains are cleared etc, with the occasional spectacular sea wall or something.