Insurance bosses to front inquiry



SEVERAL Queensland home owners dissatisfied with their insurers will today speak at an inquiry into the state’s summer of floods.


The vexed issue of insurance was outlined as a major focus of the second round of inquiry hearings, which started more than two weeks ago.

The Queensland Floods Commission of Inquiry has, in recent weeks, mostly heard about the design flaws and planning issues which contributed to the damage of buildings and infrastructure.

The inquiry has also been told how flood terminology could be misleading.

A handful of home owners have so far told the inquiry how the assessment of flood claims differed from house to house in each street.

They described flood definitions as inconsistent.

The inquiry will step up a gear today when several more disgruntled home owners speak about their “uncaring and unprofessional” insurers.

Insurance company bosses are expected to front the inquiry in Brisbane later this week, before the commission travels to Bundaberg, Maryborough, Gympie and Ipswich.

The inquiry is examining the timeliness and adequacy of insurance claim assessments, as well as the handling of complaints.

It will not investigate the way in which insurers define flood.

It will be up to the Commonwealth Natural Disaster Insurance Review to probe the affordability and scope of insurance coverage.

The commission, which made 175 recommendations in its interim report in August, will deliver its final report in February.

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