Insurers Under Scrutiny for Response to Alfred Flood Claims
Insurers Under Scrutiny for Response to Alfred Flood Claims
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
In a recent development, Queensland MP David Lee has raised concerns about how insurance companies are addressing claims following the devastating floods caused by Ex-Tropical Cyclone Alfred.
Businesses in Hervey Bay, a region heavily impacted by the floods, report facing significant hurdles in having their damage claims recognized.
Speaking before an upcoming Insurance Council of Australia (ICA) meeting set to address policyholder issues, Mr. Lee highlighted widespread dissatisfaction among flood-affected businesses regarding their insurance claims. According to him, while some insurers have been proactive, others are rapidly dismissing any responsibility for flood-induced damage.
Mr. Lee shared insights based on data from the state's business disaster recovery initiative. He noted a growing trend where business owners are struggling with insurance complications as they strive to recover from the calamity that hit in March. He criticized certain insurers for demanding exhaustive hydrology reports from already distressed clients and called for more efficient resolutions to these pressing claims.
Emphasizing his point, he recounted the ordeal of a local butcher whose shop faced significant damage estimated at more than $300,000. Despite having paid insurance premiums for nearly two decades, the business owner now finds himself in dire financial straits, having to cover employee wages from his depleting savings, without any incoming revenue.
According to the ICA, insurers have processed over 100,000 claims amounting to nearly $1 billion due to Alfred's impact. Hervey Bay, particularly, suffered severe consequences, leading the ICA to label the incident a catastrophe. They plan to hold a meeting in Hervey Bay on May 15 to address ongoing concerns.
Liam Walter, ICA's director of mitigation and extreme weather response, emphasized the importance of direct engagement in Hervey Bay. The council aims to ensure comprehensive support and resolution for those affected, with expectations that assessments and discussions around rebuilding are well underway by now.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
Australia’s insurance market has moved into a more competitive phase, but truck operators should not assume that softer conditions will translate into automatic premium relief. A July 2026 market overview reported that insurer appetite remains strong for well-presented commercial risks, yet motor insurance is becoming sharply divided between disciplined fleets and higher-risk heavy vehicle operations. - read more
New research highlighted by Zurich has put a timely spotlight on a major challenge for Australian workers: people are living longer, but many are also spending more of those years managing chronic health conditions. For households that rely on a regular wage, salary, business income or contract work, this trend reinforces why income insurance is not just a product for sudden accidents. - read more
A recent Australian Financial Complaints Authority decision has put an important issue in focus for sales staff, recruiters, account managers and other workers whose income depends partly on commission. The dispute involved a policyholder covered under an employer’s group income protection arrangement with MetLife. After a work-related mental health injury, he claimed on the policy, but his commission earnings were left out when his pre-disability income was calculated. - read more
A fresh development in Australia’s insurance broking sector is worth watching for boat owners, charter operators and anyone who relies on specialist advice to arrange marine cover. On 14 July 2026, Insurance News reported that global private equity firm KKR had joined the consortium seeking to acquire Steadfast Group in a proposed $7.7 billion transaction. - read more
A reported data breach involving Lifeline Australia has renewed attention on a widening protection gap in the Australian cyber insurance market. While Lifeline has indicated that help-seeker and financial information were not compromised, the incident is a timely reminder that staff, volunteer, client and supplier data can still create serious legal, operational and reputational exposure for any organisation. - read more
Welcome to our comprehensive guide on public liability insurance. If you run a business, you've probably heard this term thrown around quite often. But what exactly is public liability insurance? - read more
Public liability insurance is a crucial aspect of managing risk for businesses in Australia. This type of insurance covers costs associated with claims made against a business for property damage or personal injury caused during business operations. - read more
Public liability insurance is a type of insurance policy that provides coverage for businesses and individuals against claims made by third parties for injuries or damages sustained while on their property or as a result of their activities. - read more
Today, we're diving into the world of public liability insurance, a crucial topic for anyone running a small business or working as a self-employed professional in Australia. - read more
Liability insurance is a crucial form of protection that offers coverage against claims resulting from injuries and damage to people or property. Within the bustling landscape of Australian businesses, possessing this form of insurance is key to financial security and continuity. It acts as a safety net, ensuring businesses can manage risks without bearing the full brunt of potentially costly legal claims. - read more
Start Here !
Knowledgebase
Underwriting: The process by which an insurer determines the risk of insuring a client and decides the terms of coverage.
No comments yet. Be the first to share your thoughts.