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NEW – Flood Risk Database.

Jun 4, 2013

A new flood risk database, commissioned by the Insurance Council of Australia (ICA) to help insurers determine flood risk has been created. 

The national Flood Exclusion Zones (FEZ) database was developed by Risk Frontiers, an independent risk research centre specialising in the study of natural hazards.

The database will assist insurers to understand if properties lay within the boundaries of a flood plain and can be used in geographical areas where local government flood mapping is not available and where insurers have few other options to assess the level of flood risk.

It is one tool insurers may voluntarily use to gain a better understanding of the risk to a property.

The new patented FEZ methodology uses a range of factors, including digital elevation, proximity to water courses, land gradient and historical flood records, to identify whether or not an address is likely to have any exposure to riverine flooding.

The NFID was developed by the ICA with the assistance of state and territory governments. It is funded by the general insurance industry and provides in-depth information of flood risk to individual properties although unfortunately, not every flood-prone area in Australia is covered by the NFID, as some local governments and floodplain management authorities responsible for this information have yet to release adequate digital flood mapping.

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