Whether that cost is paid unexpectedly after a disaster or in installments leading up to a disaster really dodges the question - also, offering any sort of long term weather related insurance seems pretty risky right now and I wouldn't really trust any such insurance. The party offering it might just get overwhelmed and declare bankruptcy.

No matter which approach to ameliorate the cost is taken, I think it's quite valid to be concerned that this cost won't be levied on those that have contributed to the damage.