The 2011 floods resulted in lengthy consultations with Productivity Commission, Natural Disaster Insurance Review, insurers, etc.

The good news for those outside high-risk flood areas is that they will not be paying higher premiums.

The bad news is that homeowners in the high-risk flood areas will be facing higher premiums, because insurers decide to increase premiums (substantially) or no insurance company is prepared to offer cover at any price.

The outcome for these people with no insurance is to do nothing and pray for drought, take physical precautions – e.g. build levy banks around the property, elevate the house or sell (at a big loss).

Local councils planning controls may get tougher, although they generally act faster than state and federal governments, so planning restrictions have occurred in most areas already.