Broker-advised flood victims launch class-action

Broker-advised flood victims launch class-action | Insurance Business

Broker-advised flood victims launch class-action

Two Queenslanders who were unaware the home and contents insurance purchased through a broker did not include riverine flood cover had their claim rejected by the insurer and have now launched a class-action lawsuit…

Tony and Julie Reed have launched the case against the operators of the Wivenhoe Dam as a financial lifeline, according to a report in The Herald Sun.

The Reeds suffered more than $1 million in damages and lost value to their family home in Mt Ommaney and a former rental property in Fig Tree Pocket. 

"We have a lot at stake," Mr Reed told The Herald Sun. "We hope we can get a settlement. Even 50% of what we lost is better than nothing."

Mr Reed said he wasn't surprised that experts hired by the law firm acting for flood victims suggested many homes would not have flooded if the dam was properly managed.

They received a charity payout of $60,000 and about $5000 from the government. The broker used by the Reeds was not named.