In Queensland, more than 90 percent of catchments� flood-mapping data is still being sourced for the NFID.THE Insurance Council of Australia (ICA) has reiterated its call to local governments in Queensland to release detailed flood-mapping data.
This would allow more insurers to develop insurance products for the Queensland market.
“If more widespread mapping and data were available for Queensland, more insurers would be able to price the risk, leading to more flood products being offered to the Queensland community,” ICA CEO Rob Whelan said.
The additional community benefit will help more Queenslanders understand the risks relating to their property, while raising awareness.
The general insurance industry has been working in partnership with all Australian state governments to develop the multimillion dollar National Flood Information Database (NFID).
This database, which is funded by the general insurance industry, is used to determine the flood risk to individual properties.
Unfortunately, not every flood-prone area in Australia is covered by the NFID, as some local governments and floodplain management authorities responsible for this information have yet to release adequate flood mapping for their jurisdictions.
“Insurers have demonstrated that where the risk can be properly understood, they will develop the product. There is far greater flood coverage in states like NSW, WA and SA because flood mapping and data have been made available to the industry,” Mr Whelan said.
In Queensland, over 90 per cent of catchments’ flood-mapping data is still being sourced for the NFID. The ICA is continuing to work with local govern-ments for the release of this crucial data.
“Queensland has been affected by severe flooding many times in the past and we know similar events are inevitable in the future. There must be action to provide this data immediately,” Mr Whelan said.
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