Flood review highlights mitigation

Flood review highlights mitigation | Insurance Business Australia

Flood review highlights mitigation
A flood review in Tasmania has been backed by the insurance industry as it calls for improvements in flood mapping and further examination of mitigation options.

The independent review into the Tasmanian floods of June and July 2016 has called on the Government to review its existing flood maps and consider undertaking comprehensive flood mapping of the entire state, a suggestion that was welcomed by the Insurance Council of Australia (ICA).

The ICA also welcomed findings that highlighted the need for the state Government to explore adaptive strategies and investment in flood mitigation infrastructure and an examination of whether the Government is investing enough in mitigation.

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The report also found that the flood levees at Launceston North and Northern Midlands Council had worked well during the flooding and noted that public education around flood dangers should also be improved, which the ICA also welcomed.

Campbell Fuller, ICA spokesman, said that the report provides valuable insights into the protection needed by homes and businesses in the state, which is Australia’s most flood-exposed.

“Investments in permanent, well-maintained mitigation – such as Launceston’s upgraded levee system – save governments substantial sums in the long term by removing the need to continually rebuild and repair flood-damage,” Fuller said. “Effective mitigation can only take place where the risk is understood. Flood mapping allows communities to identify which areas are exposed to flooding, how often and to what depth. It’s a crucial tool to help councils, households and businesses protect themselves.”

The east coast low that hit Tasmania in 2016 caused insured losses of approximately $60 million in the state and the report noted that insurers need to ensure that policies are understood, especially in relation to flood cover.

“The industry recognises the need for clearer, more engaging policy disclosure and is actively examining how to do this,” Fuller continued.

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