The Queensland Government is investigating how property-buyers can get better information about flood risk.

It is considering how local councils can make information on natural hazards publicly available, the State Government says in its response to the Productivity Commission’s draft report into barriers to climate change adaptation.

Last year’s inquiries into the floods heard that information on flood risk is often held by local councils but is difficult for property-buyers to find. In many cases it is not publicly available.

The Queensland Government says in its response that it is “undertaking consultation with the Queensland Law Society and the Real Estate Institute of Queensland regarding flood data records and mechanisms which will alert prospective purchasers of property to flood risk issues”.

It says Queensland has a higher natural hazard risk profile than other states.

The state was criticised after last year’s floods for not buying reinsurance to cover heavy losses to infrastructure and relying on Commonwealth disaster funds under the Natural Disaster Relief and Recovery Arrangements (NDRRA).

It was forced to buy reinsurance over all non-road assets, with the premium costing $25-$30 million annually to cover assets worth $53.6 billion. It was unable to get cover for roads.

The Productivity Commission says the Federal Government should commission an independent review of the NDRRA to consider whether the program encourages inadequate infrastructure investment or insurance decisions.

But in response, the Queensland Government says not all risks can be avoided cost-effectively, and any review of the NDRRA should focus on how existing arrangements can be improved.

It says the NDRRA’s purpose is to restore communities after a disaster.

“The current arrangements allow rapid responses on the ground after a disaster as councils have confidence that they will be reimbursed for expenses,” it says.

Also see “Canberra to monitor state/territory insurance arrangements”