Forum Home Rules Photo / Movie Contact
Go Back   Charters Towers Forums Nth QLD > Outback and Country Forum > Cattle Station and Farm
Cattle Station and Farm For people that live and work in the outback , general discussion

Thread Tools
Old 23-02-2011, 06:29 AM
Kelly's Avatar
Kelly Kelly is offline
Join Date: Feb 2006
Location: Charters towers
Posts: 453
Default Federal and state goverment look at a shake up of the insurance industry

Australian federal and state leaders have foreshadowed reforms to the insurance industry to ensure policies properly cover flood damage as the Queensland clean up continues and the threat in Victoria worsens.

It is understood that federal, Treasurer Wayne Swan and Assistant Treasurer Bill Shorten have sought urgent advice from Treasury on developing a standard definition of floods for insurance policies, The Australian Financial Review reports.

The move comes amid growing, concern over insurance companies, refusing to compensate policyholders for recent flood damage as thousands of Brisbane residents turned out over the weekend to clean up the inundated city.

Premier Anna Bligh said there were thousands of people who believed that they had flood cover but who were discovering they were covered for the "wrong" type of flood. "It is very hard to believe we can't get a better system," she said.

But insurers have warned that providing standard flood cover would be difficult and have a significant impact on premiums.
Reply With Quote


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

All times are GMT +10. The time now is 10:28 AM.

Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.