Suncorp has welcomed the Queensland Government’s decision to lower the supply of the Wivenhoe Dam, describing it as “a key step” towards mitigating flood risk in southeast Queensland.

Suncorp Group CEO Steve Johnston says it is a critical measure as the state prepares for another wet and stormy summer, with the onset of a third La Nina event announced.

“Following the southeast Queensland floods earlier this year, Suncorp Group received more than 27,000 claims, so floods are top of mind for many Queenslanders as we enter the wet season,” Mr Johnston said.

Water began to be released from the dam on October 15 to reduce its capacity to 80%, as Queensland Premier Annastacia Palaszczuk stressed the importance of being “ready for the worst”.