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