Roundtable seeks action on insurance premiums

More affordable insurance was the focus of the Queensland’s Government’s second insurance roundtable held this week in the outback town of St George.

Representatives from the Queensland Government, local councils, the National Emergency Management Agency and the insurance industry gathered to discuss steps taken in an effort to apply downward pressure to insurance premiums.

Delegates to the roundtable heard about how work to build flood resilience in rural and remote Queensland should be reflected in the price of policies.

A key item on the agenda was the sharing of new flood study data to provide a clearer picture of flood risk and advocate for fairer pricing from insurers.

Sharing the data builds on a commitment made during the first roundtable held in Charleville in September 2025.

Following that event, the Queensland Reconstruction Authority (QRA) led a working group to streamline the integration of updated flood study data into the National Flood Information Database.

In March 2026, seven recently completed flood studies, produced by local councils and the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development, were provided to the Insurance Council of Australia. 

Significant investments in flood mitigation projects are also expected to further strengthen the case for reducing insurance premiums throughout regional Queensland.

Key initiatives funded through the Queensland Resilience and Risk Reduction Program include new flood studies and floor level surveys, upgrades to the flood warning system, and the strengthening of floodways in Quilpie Shire. 

Together, these projects aim to address flood risks and provide long-term security to residents in areas susceptible to severe weather events.

Despite a dramatic reduction in the risk of flooding, households in regional Queensland face exorbitant premiums with insurance premiums in some areas doubling annually.

Work will continue to encourage insurers to recognise the important work being done throughout the state to lessen risk and increase resilience to achieve a fairer deal on insurance for all Queenslanders.