Home > Regions > Asia Pacific > I can buy it, but what if I don’t want it? Government releases ‘Reforming flood insurance – A proposal to improve availability and transparency’ consultation paper

I can buy it, but what if I don’t want it? Government releases ‘Reforming flood insurance – A proposal to improve availability and transparency’ consultation paper

As part of its review of the issue of flood coverage in Australia, the Natural Disaster Insurance Review panel (the review panel) considered several options to increase the availability and affordability of flood insurance offered by the private insurance market in the aftermath of the 2010/2011 storms and flooding in Queensland and Victoria.  One such option was to require all insurers to offer flood cover, with consumers having the option to ‘opt out’ (the proposal). read more