Bundaberg has the country’s largest exposure to financial losses linked to natural catastrophes, according to natural hazards research centre Risk Frontiers.

The Queensland city heads the list of the 20 postcodes based on average annual losses including damages on insurable assets from flood, bushfire, cyclone, earthquake and hail.

Its average annual losses contributed to 0.02% of the country’s overall loss bill and is more than double that of Townsville, which placed 10th on the list.

Queensland, WA and NSW dominate the rankings.

Risk Frontiers GM Resilience Andrew Gissing says the data will help set mitigation investment priorities.

“What we are trying to find here is to better understand the risk,” Mr Gissing told insuranceNEWS.com.au today. “This means you can spend the public dollar in terms of mitigation more effectively.

“It also provides the sort of information that would enable communities to get a better understanding and appreciation of the severity of their own risk.”

The top 20 list by postcodes (with their most significant peril in parentheses) are:

1. Bundaberg, Queensland (flood)
2. Lismore, NSW (flood)
3. Cairns, Queensland (cyclone)
4. Karratha, WA (cyclone)
5. Rocklea, Queensland (flood)
6. South Hedland, WA (cyclone)
7. Mackay, Queensland (cyclone)
8. Ipswich, Queensland (flood)
9. Grafton, NSW (flood)
10. Townsville western suburbs, Queensland (cyclone)
11. Roebourne, WA (cyclone)
12. Maryborough, Queensland (flood)
13. Broome, WA (cyclone)
14. Western suburbs of Brisbane, Queensland (flood)
15. Windsor/Pitt Town/McGraths Hill, NSW (flood)
16. Derby, WA (cyclone)
17. Port Hedland, WA (cyclone)
18. Wickham, WA (cyclone)
19. Townsville eastern suburbs, Queensland (flood)
20. Townsville surrounding suburbs, Queensland (cyclone).