Pensioners who had to let their flood insurance go because it cost $1650 a month, insured families still waiting for resolution nine months on from disaster ... those are some of the experiences we have heard since last year's devastating floods.
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Now our Parliament needs to hear them.
The Parliamentary Inquiry into the insurance response to the flood disaster is happening and chair of the committee, Dr Daniel Mulino MP, says it has launched with an online survey.
"It is really important that people participate in the survey," Dr Mulino said.
"Committee members need to have a good understanding of people's experiences with their insurance companies.
"Their evidence will inform our discussions throughout the inquiry and help guide our recommendations."
The inquiry will focus on a range of issues, including:
- Timeframes for resolving claims;
- Obstacles to resolving claims;
- Communication with people lodging claims;
- The effectiveness of internal dispute resolution processes;
- The accessibility and affordability of hydrology reports and assessments;
- The affordability of insurance cover; and
- The preparedness of insurance companies for future major floods.
Dr Mulino said people in his electorate of Fraser were devastated when the Maribyrnong River flooded in October.
"I will never forget the despair of the families and local business owners who lost everything," he said.
"My staff are still advocating for affected residents who have outstanding claims with their insurance companies. Meanwhile, they are also trying to rebuild their lives, which is difficult when claims haven't been settled."
From an insurance perspective, the 2022 floods were some of the costliest in the nation's history.
"This is why it is also critical that we engage with the insurance industry and understand the effect of supply chain issues, skills and labour shortages on responding to claims; how insurers communicate with their policy holders in difficult times; and their preparedness for future events," Dr Mulino said.
In addition to the online survey, available here, the committee will also accept submissions that address the Terms of Reference until 31 October 2023. Submissions can be made online.
Further information about the committee's inquiry, including the full terms of reference, details on how to participate in the survey or make a submission, are on the inquiry's website.
The committee is to report by 30 September 2024.
Inquiry contacts: (02) 6277 4707 or floodinsurance.reps@aph.gov.au
