The Insurance Council of Australia has unveiled the industry’s policy recommendations for the next Federal Government.

The centrepiece of the policy document, ‘Advancing Australia’s Resilience’, is a $30 billion investment over 10 years to protect Australia’s most at-risk catchments in Queensland, New South Wales and Victoria.

Insurance Council of Australia CEO, Andrew Hall told Peter Fegan on 4BC Breakfast, “The problem with flood insurance in Australia and around the world, we’re not the only jurisdiction that faces this challenge.”

“Flood is the predictable risk.”

“Insurance is designed to protect your property from the unexpected, from a break-in, from a fire, from a random hailstorm and the like.”

“The problem with homes built in flood areas is that we can predict when the risk is going to happen,” Mr. Hall said.

Hear more highlights from 4BC Breakfast below:

Image: Ergon Energy Network

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