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The Australian Government is seeking feedback and comments on new measures to improve the availability and transparency of flood insurance.
The proposed changes include requiring all insurers to offer flood cover in home building and home contents insurance policies they sell, while allowing customers to ‘opt out’ of flood cover when they buy insurance.
The Reforming Flood Insurance consultation paper is available for comment until 30 March 2012.
To give feedback on the proposed changes, visit The Treasury website.
You can find more consultations like this on our Business Consultation website.
Has your business been impacted by recent floods? Read our Assistance for disaster-affected businesses page for recent updates on available assistance, or visit our Emergency management & recovery topic for information on how to protect your business from natural disasters.
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