The Financial Ombudsman Service (FOS) settled 40% of matters in favour of consumers in determinations on disputes from the 2011 Queensland floods.

This year began with the service still working to resolve 166 disputes from the floods, although 40% of these were received in the past six months.

FOS received 1182 disputes from the event, the largest number it has seen from a single natural disaster.

It is close to resolving 20% of the outstanding number. The service operates through conciliation and by issuing recommendations, but if these fail matters go to a determination.

Insurers received 66,000 claims after the 2011 Queensland and Victorian floods. FOS says the most common disputes concerned whether people were clearly informed of their policy coverage, whether they had received all pertinent documentation, and the use and analysis of hydrology reports. Exclusion clauses also led to disputes.

FOS says the release strategy for the Wivenhoe Dam was one of the most complex issues.

It considered the findings of the Queensland Floods Commission of Inquiry and found, as a rule, that properties flooded within 24 hours of 4am on January 11 – when there was a release from the dam – were likely to be covered if their insurer had provided cover that allowed for flash flooding within 24 hours of the start of heavy rain.

FOS received 276 disputes from the Victorian flood and resolved 230. It says many of the remaining 46 cases are close to being resolved.