Insurance companies have stopped offering flood policies to homes and businesses now at risk in Brisbane, the Gold Coast, and northern New South Wales.

Insurance Council of Australia spokesman Paul Giles says the embargo has been declared by most insurers.

"When there is a major event, and the major event is 'on foot', and people are attempting to get insurance for that particular risk such as bushfire or such as flood that embargos are often placed on new policies happening until the event has passed," he said.

Mr Giles says it is standard industry practice during a natural disaster.

"It doesn't mean that the insurance will not ever be available again," he said.

"It is just for the time being - some insurers may choose just to suspend issuing new policies."