But building a new port facility is just another way those rich people can get richer. Things change, but the rich are still rich and the poor are still poor. They tried having the state own everything in communist USSR and China, and that didn't work so well. Insurance companies will continue forever: The risks change and the rates reflect those risks. We can easily build fire-proof houses and people are starting to do it in California. That removes a lot of the risk from wildfires.

Likewise, people living in 500 year flood planes (now apparently 5 year flood planes) need to build on stilts or concrete blocks that make the downstairs all garage. On the other hand, I would not bother making your house hurricane-proof, if it's going to end up under water.