The Treasury website is being redeveloped. Visit our new beta website and tell us what you think

Reinsurance pool for cyclones and related flood damage

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Consultation Paper

Key Documents

On 4 May 2021, the Government announced its intention to establish a reinsurance pool for cyclones and related flood damage, to commence from 1 July 2022 and be backed by a $10 billion Government guarantee. The pool would cover residential, strata and small business property insurance policies in Northern Australia.

A Treasury-led Taskforce is consulting with industry and community representatives, as well as other interested stakeholders, to develop a final design for the reinsurance pool.

The purpose of this consultation paper is to seek comments on key design features of a reinsurance pool for cyclones and related flood damage, which would aim to improve the accessibility and affordability of insurance in cyclone-prone areas.

 

Submissions

63 submissions were received for this consultation, including 6 confidential submissions.

Actuaries Institute - pdf 228.55 KB
Allianz Australia Insurance Limited - pdf 211.17 KB
Archers - pdf 433.37 KB
Association of Bermuda Insurers and Reinsurers - pdf 167.83 KB
Assorted consumers - pdf 332.04 KB
Australian Chamber of Commerce and Industry - pdf 320.92 KB
Australian Small Business and Family Enterprise Ombudsman - pdf 664.58 KB
Caravan Parks Association of Queensland - pdf 372.3 KB
Carter, Ms Rachel Anne - pdf 10.42 MB
Chamber of Commerce and Industry Queensland - pdf 1.08 MB
Christian, Ms Angela - pdf 417.09 KB
CHU Underwriting Agencies Pty Ltd - pdf 751.54 KB
Chubb Insurance Australia Limited - pdf 276.39 KB
Community Housing Industry Association - pdf 385.47 KB
Connect Housing Group - pdf 114.72 KB
Cyclone Testing Station - pdf 343.84 KB
Daw, Mr Steven - pdf 100.77 KB
Devaney, Mr John - pdf 149.63 KB
Faulkner, Mr Mark - pdf 187.22 KB
Fernandes, Dr Leanne - pdf 522.47 KB
Financial Rights Legal Centre - pdf 355.81 KB
Greater Whitsunday Alliance - pdf 419.69 KB
Henschke, Mr Jurgen - pdf 86.53 KB
Housing Industry Association - pdf 282.38 KB
Indian Ocean Territories Regional Development Organisation - pdf 2.88 MB
Insurance Council of Australia - pdf 1.56 MB
Jarzabkowski, Professor Paula - pdf 105.62 KB
Legal Aid Queensland - pdf 239.38 KB
Moffat, Mr William - pdf 210.23 KB
National Insurance Brokers Association - pdf 346.52 KB
National Recovery and Resilience Agency - pdf 53.87 KB
Northern Australia Insurance Lobby - pdf 622.49 KB
Port Douglas Apartments Committee - pdf 244.55 KB
Property Council of Australia - pdf 707.34 KB
QBE Insurance Group Limited - pdf 2.98 MB
Queensland Department of Transport and Main Roads - pdf 139.8 KB
Queensland Tourism Industry Council - pdf 13.71 MB
Queensland Treasury - pdf 1.01 MB
Racing Queensland - pdf 795.2 KB
Retirement Living Council - pdf 159.53 KB
Royal Automobile Club of Queensland Limited - pdf 765.78 KB
Shopping Centre Council of Australia - pdf 420.25 KB
Small Business Development Corporation - pdf 1.75 MB
Strata Community Association - pdf 1.35 MB
Thom, Professor Emeritus Bruce - pdf 177.16 KB
Thomas, Mr Bruce - pdf 92.26 KB
Thomas, Ms Cheryl - pdf 92.3 KB
Torres Cape Indigenous Council Alliance Inc - pdf 1.75 MB
Town of Port Hedland - pdf 9.71 MB
Townsville Chamber of Commerce - pdf 1.92 MB
Townsville City Council - pdf 1.17 MB
Townsville Enterprise Limited - pdf 70.34 KB
Townsville Lot Owners Group - pdf 3.4 MB
Upton, Mr Anthony - pdf 470.05 KB
Waymark Hotels Group - pdf 203.79 KB
Whitsunday Bareboat Operators Association - pdf 130.07 KB
Whitsunday Regional Council - pdf 175.83 KB