Only days after an executive from Swiss Re spotlighted the protracted recovery process impacting insureds affected by the 2022 Australian floods, those impacted have been invited to share their experiences at public hearings.
The responses will form part of a broader House Standing Committee on Economics’ inquiry into how insurance companies responded to the flood claims in 2022. According to a report in The Senior, the hearings will be held in April and May at some of the regions most heavily hit by the floods, including Brisbane, Lismore, Sydney, the Hawkesbury, Eugowra, Molong, Melbourne, Rochester and Heathcote.
Mr John Trowbridge, ACCC, Auto & General
Public hearings and site visits:
Local Councils, Community Groups, Residents & Businesses
Further details are due to be confirmed with indicated dates and locations potentially subject to change. Programs for the hearings will be made available on the inquiry website aph.gov.au/floodinsurance.
The Senior’s report shared that committee chair Daniel Mulino wants the hearings to take stock of the floods’ impact on communities and to offer “firsthand” insight into how local residents and businesses experienced the claims process with their insurers.
Mulino added that a number of these impacted towns have since been hit by floods again and said the committee wants to see if insurers’ handling of claims has improved.
For those looking to make a public or confidential submission, impacted individuals and organisations are encouraged to submit before July 31, 2024, at the following link - https://www.aph.gov.au/Parliamentary_Business/Committees/OnlineSubmission.
The Senior noted that over 400 people have already provided feedback on their experience with their insurers, and that this online survey will also remain open until July 31, 2024. The commission will also hear from departments and agencies, among them Treasury, the National Emergency Management Agency and the Australian Competition and Consumer Commission.
The public meetings and consultation follow hearings from insurers and reinsurers.
