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Flood insurance inquiry to hear from affected communities and key agencies
The House Standing Committee on Economics has announced new public hearings as part of its inquiry into insurers’ responses to 2022 major floods claims.
In March, the committee will wrap up hearing from insurers and reinsurers. It will also hear from key departments and agencies, including Treasury, the National Emergency Management Agency and the Australian Competition and Consumer Commission.
The committee is also announcing today its high-level schedule for planned hearings in April and May at some of the regions worst affected by the 2022 major floods, including Brisbane, Lismore, Sydney, the Hawkesbury, Eugowra, Molong, Melbourne, Rochester and Heathcote.
Committee Chair Daniel Mulino MP said, "We are entering the critical second phase of this inquiry, where we want to hear firsthand about the floods’ impact on communities, and the experiences of local residents and businesses going through the claims process with their insurers.
"One of our priorities for these hearings will be organising roundtables and community statements, where we want to hear directly from people on the ground about their experiences with the insurance industry after the floods.
"A number of these affected towns have been hit again by floods since 2022, and the committee will be looking to see if insurers’ handling of claims has improved."
Further details about the regional hearings and attendance options will be released closer to the date.
Dr Mulino said there is also time for people and organisations to make a public or confidential submission, through this online link. Impacted individuals are encouraged to submit before 31 July 2024.
More than 400 people have already provided feedback about their experience with their insurer through an online survey, which will also remain open until 31 July 2024. The committee encourages affected individuals to complete the survey.
March 2024
Public Hearing – Swiss Re, Treasury, the National Emergency Management Agency, Lloyds
Date: 15 March 2024Time: 11am to 6.30pmLocation: Videoconference
Public Hearing – John Trowbridge, ACCC, Auto & General
Date: 22 March 2024Time: 9.30am to 2.45pmLocation: Videoconference
Programs for the hearings will be made available on the inquiry website. A live video stream will also be available on the APH website.
April–May 2024
Public Hearings and Site Visits – Local Councils, Community Groups, Residents & Businesses
Dates: (TBC) April 2024Locations: Brisbane, Lismore
Public Hearings and Site Visits – Local Councils, Community Groups, Residents & Businesses
Dates: (TBC) April 2024Locations: Metro Melbourne, Rochester, Heathcote
Public Hearings and Site Visits – Local Councils, Community Groups, Residents & Businesses
Dates: (TBC) May 2024Locations: Molong, Eugowra, the Hawkesbury, Parramatta
Further details to be confirmed. These indicated dates and locations may be subject to change.
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