FORESIGHT NEEDED IN PLANNING DECISIONS

WE can’t continue to build homes with our eyes closed to the increasing risks of flood. The most recent disaster in southeast Queensland and northern NSW set a new damage bill record of $3.34bn. But how long will it take for that record to be broken as storms increase in severity and frequency?

The devastating 2019 floods in Townsville cost $606m in damage alone and now insurance companies refuse to provide cover in certain postcodes, and those who do secure a policy are forced to pay increasingly higher premiums as insurance companies attempt to cover themselves to a degree from natural disasters.

The Insurance Council of Australia

Now insurance companies refuse to provide cover in certain postcodes

today releases its Flooding and Future Risks report, which calls for an overhaul of rules governing how and where new homes are built to better protect property from greater risk.

ICA chief executive Andrew Hall said the report underscored the need to make better decisions in land use planning, building standards and government investment in mitigation works to end the cycle of flood impacts on homes and businesses.

The report noted that existing flood zones were likely to expand and expose more than one million private properties, or about one in 10 homes, at some level of flood risk nationwide.

It might be time to move to higher ground if smarter decisions are not made at all levels for development.