Australia: ANZIIF Supports The 2024 Flood Inquiry Report Recommendations

The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is proud to support the recommendations of the 2024 Flood Inquiry Report.

Commissioned by the House of Representatives Standing Committee on Economics, the Report examines insurers’ responses to the 2022 floods across Australia. It addresses concerns about delays in processing claims, unclear communication with policyholders, confusion over policy coverage, and improving affordability and access to flood insurance.

Based on public hearings and submissions from major insurers, key regulators, consumer groups, and impacted members of the public, The Report provides a comprehensive view of the challenges faced during the flood response.

The report also outlines how government and industry can collaborate to achieve better outcomes for those affected, with recommendations for state and local governments to enhance their flood preparedness, response and recovery efforts.

“ANZIIF recognises the importance of the Flood Inquiry Report in ensuring good customer outcomes. We are committed to supporting the industry through quality education and professional development which continually strengthens the insurance sector”’ says ANZIIF CEO, Katrina Shanks.

In support of the report and its proposed changes, ANZIIF will be hosting a Thursday Thought-Leaders webinar with Dr Daniel Mulino MP as he provides an in-depth analysis of the Flood Inquiry Report.

The webinar will offer valuable insights into the report’s findings and recommendations, allowing industry professionals to understand the implications for future policy and practice. Registrations for the webinar are now open here.

ANZIIF also offer the Empathetic Claims Management short course, the first of three short courses that have been developed in anticipation of the report’s findings, as well as
the General Insurance Claims Handling Framework designed to meet the minimum professional standards framework for claims handling and settling services.

To learn more about the 2024 Flood Inquiry Report, visit the ANZIIF website at anziif.com.

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