On 19 July 2023, the Government announced a parliamentary inquiry into the insurance industry’s response to the 2022 floods. The parliamentary inquiry commenced in August 2023 and is being carried out by the House of Representatives Standing Committee on Economics, with the report finalised on 30 September 2024 – Information about the parliamentary enquiry.
The House of Representatives Standing Committee on Economics are seeking information about the experiences of those affected by the floods when dealing with their insurers, so this can be used to inform the committee’s understanding of the insurers’ responses to the floods and the impact on affected people and communities. You can contribute to the inquiry by completing a simple, anonymous online survey.
The Insurance Council of Australia (ICA), the representative body for the general insurance industry, has welcomed the announcement, having commissioned, in April 2023, its own independent review of the insurance industry’s response to the February-March 2022 flood events.
The ICA review is due for release in October 2023.