Coronavirus (COVID-19) updates from the Australian Government

Cyclone Reinsurance Pool Taskforce

Status
Open
Date

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 will cover residential, strata and small business property insurance policies in Northern Australia.

A Treasury-led Taskforce consulted with industry and community representatives, as well as other interested stakeholders on the reinsurance pool.

The Government is now seeking stakeholder views on exposure draft legislation to establish the pool.

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Contact

Email: reinsurancepool@treasury.gov.au

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