Australian government considers privatizing last state-owned insurance organization Flood insurance is becoming a major concern in Australia. The Australian government is beginning to privatize flood protection, allowing various insurance companies to provide coverage directly to consumers rather than providing this coverage through the Territory Insurance Organization (TIO). TIO is the last state-owned insurance organization in the country, and the government has been working to sell off policies that had previously been the organization’s responsibility. This could have serious implications regarding the cost of flood insurance coverage. Privatized flood protection could…
Read MoreFlood insurance becomes a divisive issue in Australia
