Treasurer Jim Chalmers and Emergency Management Minister Murray Watt have ordered insurance companies to act responsibly in the aftermath of widespread flooding in Queensland and Victoria.
The recent storm has resulted in significant property and business losses for thousands, necessitating a cleanup operation estimated in the billions of dollars.
A Sky News report noted that while the Albanese and Queensland governments have committed to providing support payments for affected residents, the majority will rely on insurance claims to rebuild in the coming months. However, concerns have surfaced as some locals report difficulties securing payouts from their insurers, potentially leaving them stranded and without means for recovery.
On Tuesday, Chalmers issued a stern warning to insurance providers, emphasising the need to support those significantly affected by flooding.
“Our message, from all three levels of government, to the insurers is very clear; do the right thing by your customers,” he said, as reported by Sky News. “People have been through hell in some of these communities, housing out homes, throwing away a lifetime of belongings, [and] being in physical danger; the last thing that people need is insurance companies stuffing them around.”
Watt echoed the message, acknowledging that while most insurers were assisting their customers, there were instances of some allegedly seeking loopholes to avoid fulfilling their obligations.
“It’s important right now that insurers do the right thing by Queenslanders and all Australians who are going through these disasters,” he said. “Overall, I have to say I think insurers have improved their performance and their responsiveness to consumers in recent years, but the last thing that people want to see happen right now is to be duded by an insurance company through finding some kind of a loophole.”
In other news, the Australian Government continues to assist National Disability Insurance Scheme (NDIS) participants in regions affected by ex-Tropical Cyclone Jasper.
