Inquiry Exposes Insurance Failures in 2022 Australian Floods

A federal report finds insurers mishandled claims, prompting 86 recommendations for reform.

Insurers were criticized for systemic issues, including inconsistent decisions and long delays, affecting over 300,000 claims from the 2022 floods.
The inquiry recommended abolishing state taxes on insurance and improving affordability for high-risk flood areas.
Measures proposed include a nationwide buyback and resilience program for properties in very high-risk flood zones.
Recommendations call for clearer communication from insurers and a presumption of coverage for unobservable property conditions.
Governments are urged to prevent new developments in areas with a 1-in-100 year flood risk to mitigate future disasters.