Federal Government’s response to Natural Disaster Insurance Review called inadequate by opposition

The response of the Federal Government to the Natural Disaster Insurance Review has just released, and the opposition is not pleased with what they have seen. The Government has decided that it will be introducing a new standard definition for the concept of a “flood”, and has announced that it is also considering making flood coverage a required inclusion in all standard homeowners’ and contents policies. However, for the majority of the 47 total recommendations that were made by the review, the Government deferred a decision, stating that it is…

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