Findings from a four-year Brisbane River catchment flood study are expected to increase mitigation efforts and improve premium pricing.

Queensland Infrastructure and Planning Minister Jackie Trad says researchers examined 170 years of rainfall data and 11,340 scenarios that influence flooding, and ran more than 50,000 computer simulations.

“This study provides a comprehensive analysis of a range of potential flood events, which is a critical first step towards developing a strategy that will set out flood resilience options for the region,” she said last week.

The study was recommended by the Queensland Floods Commission of Inquiry, set up after floods across the state in 2010/11 killed more than 30 people and caused extensive damage below the Wivenhoe Dam near Brisbane.

Insurance Council of Australia CEO Rob Whelan says the data will be made available to all insurers through the National Flood Information Database.

“The availability of more extensive flood information allows insurers to fine-tune their premiums,” he said. “Where flood exposure is assessed as lower than previous data indicated, premium reductions may follow.”

Suncorp EGM Consumer Portfolio and Products Darren O’Connell says the study is a “great first step” in making better mitigation and planning decisions for the region, but work must continue to ensure the findings translate into benefits.

“That includes better protection and planning decisions for at-risk communities, while ensuring cities and towns in the region will recover quickly from a disaster,” he said.

“Potentially, it will also lower premiums.”

Suncorp will use the study to fine-tune how it views flood risk in the region, Mr O’Connell says.

The Brisbane River catchment area spans more than 13,500 square km, with the floodplain downstream of Wivenhoe Dam covering the Brisbane, Ipswich, Somerset and Lockyer Valley local government areas.

The study involved the four councils, plus the state government and Queensland Reconstruction Authority.

Brisbane Lord Mayor Graham Quirk says a co-ordinated effort is important because the region has a long history of major floods, recorded as far back as 1893.

“In the past, the way we planned for flooding was divided by local government area, but we know that floods have no respect for council boundaries,” he said.