The Insurance Council of Australia (ICA) has urged local governments to submit flood data and mapping to an industry database, to ensure premiums accurately reflect risk.

Narrabri Shire in NSW is supplying information on Wee Waa after premiums increased by up to 400%, despite a levee having protected the town since the 1970s.

“We are very pleased Narrabri is seeing that providing data will help insurers make their pricing more accurate and reflect mitigation around Wee Waa,” ICA GM Communications and Media Relations Campbell Fuller told insuranceNEWS.com.au.

“This is a very positive step and we are urging local governments to provide data if they have it.”

The National Flood Information Database was developed by ICA with the help of state and territory governments. It is funded by the general insurance industry and provides in-depth information on risk to individual properties.