The Queensland Government has confirmed it has no immediate plans to examine a compulsory flood cover scheme.

The Residents Association for the South Sunshine Coast met with Attorney-General Jarrod Bleijie last month to petition for a levy on all properties except vacant land to cover the cost of rebuilding after a flood.

They told Mr Bleijie a levy charged on rates would see flood risk spread wider and premiums fall.

A spokesman for the Attorney-General told insuranceNEWS.com.au that Mr Bleijie, who is the state MP for the Sunshine Coast seat of Kawana, met with residents and has passed on their concerns to State Treasurer Tim Nicholls.

The spokesman says no investigation into compulsory flood cover is currently being considered.

The association’s call for compulsory flood cover as a mechanism to lower the cost of insurance is at odds with the insurance industry, which says mandatory flood cover would stop Australians insuring adequately.

While the Natural Disaster Insurance Review recommended a reinsurance pool so insurers could provide discounted flood coverage to high-risk households, Financial Services Minister Bill Shorten has so far not acted on the recommendation, saying it requires “detailed consideration… given the complexity of the recommended scheme and its potential financial implications for governments”.