The deadly northern Queensland floods will not force national insurance premiums higher, Suncorp chief executive Steve Johnston said, but the inundation will test insurers’ ability to restore their social licence, after fumbling a major flood response three years ago.

Suncorp is one of seven insurers to have set up a claims-handling hub in Townsville to process thousands of expected claims, triggered by the intense deluge in northern Queensland since late January. Suncorp, like other insurers, has limited access to affected areas in Ingham and outside Townsville, so has not been able to estimate potential payouts.