When did the council last revise your flood models? Up here in Queensland, it caused a real stir when the council released updated flood models and lots of "1/1000" year flood houses turned into "1/10"
I know you guys have also had it bad over there.
I expect the insurance companies will start removing flood cover soon. Which then becomes a bit of a shit show with mortgages. Or will raise the premiums so high that they're effectively uninsurable.