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

Flood InsuranceThe 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 focused on gathering information, first.

The Federal Opposition has stated that it is disappointed with the lack of willingness by the Government to agree to the adoption of a larger number of the review’s disaster insurance recommendations, and that it feels that the Government’s response to the review is inadequate.

The Government has yet to decide whether or not it will implement most of the various recommendations that were made within the review.

Senator Gary Humphries, the coalition emergency management spokesperson, would not identify the recommendations that had been supported by the Opposition, but he did say that he felt that the Government was failing to act, when something should be done.

He said that “We’ve had this report for all of five hours or so – we’re not in a position to announce what we’d do of these recommendations and what we wouldn’t.” On the other hand, he said that the Government has had the report available for well over a month.

For more information and rates on homeowners as well as flood insurance

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