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Consultation Paper - Reforming Flood Insurance: A Proposal to Improve Availability and Transparency

Date:

Monday, 14 November 2011

Content ID:

2221

Abstract:

The Government has released its response to the NDIR Final Report. The Government is seeking feedback and comments on the proposal requiring all insurers to offer flood cover in home building and home contents insurance policies they sell, while allowing consumers to 'opt out' of flood cover when they purchase insurance.

This proposal is part of a package of measures aimed at improving the availability and transparency of flood insurance. Other proposals that form part of this package are:

Making a submission

Interested parties are invited to comment on the paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

It is expected that further feedback and comments will be requested during the legislative drafting process.

Closing date for submissions: Friday, 30 March 2012

Address written submissions to:

The General Manager
Financial System Division
The Treasury
Langton Crescent
PARKES ACT 2600

Email: floodinsurance@treasury.gov.au

For enquiries, please call Kanwaljit Kaur (02) 6263 3717 or Caroline Walker on (02) 6263 3886.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Consultation Paper - Reforming Flood Insurance: A Proposal to Improve Availability and Transparency  865.05kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Consultation Paper - Reforming Flood Insurance: A Proposal to Improve Availability and Transparency  1,813.62kb

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Government's Response to Natural Disaster Insurance Review (NDIR) Recommendations - 14/11/2011

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