Two interesting developments today. The Supreme Court ruled that the release of water from a flood control dam, if it floods land it was created to protect constitutes a taking which requires compensation. Meanwhile, the NY Times reports that dunes, many man made, provided significant protection from Hurricane Sandy. Of course, there is a federal court case proceeding seeking compensation for takings against the construction of these dunes.
All I can say is stay tuned, I think that when the damages from Sandy and a series of storms hitting California are totaled, the value of the protection will be found to out-weigh the taking.