MPs to Investigate Tasmania's Flood Impact

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Federal Members of Parliament (MPs) are set to investigate Northern Tasmania as part of their ongoing review of the insurance sector’s handling of the unprecedented 2022 floods.

The House Standing Committee on Economics will convene at the Paranaple Convention Centre in Devonport on July 17. Chairman Daniel Mulino expressed a keen interest in gaining comprehensive insights from local councils, businesses, and residents regarding their flood-related experiences.

In October 2022, flooding affected Northern Tasmania, alongside significant parts of Victoria and New South Wales (NSW). The Insurance Council of Australia reported that these floods led to $884 million in insured losses and nearly 23,000 claims being lodged, with an impressive closure rate of 95% for these claims.

The committee has reached out to councils, business groups, and community organizations, inviting them to participate in the hearing. Individuals are also encouraged to voice their experiences through submissions at the event or by completing the committee’s survey.

In recent months, the inquiry has reviewed flood-impacted areas across Victoria, NSW, and Queensland. Future hearings are planned for Cairns and Townsville on July 24 and 25, respectively.

The committee aims to publish its final report by September 30.

As mentioned in Insurance News Magazine, Assistant Treasurer Stephen Jones emphasized his decision to avoid "populist politics" when addressing affordability barriers in the insurance industry amidst these discussions.

Published:Friday, 5th Jul 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Allianz Partners Introduces Tailored Cruise Travel Insurance for Australians

22 Dec 2025: Paige Estritori

In a strategic move to cater to the growing number of Australian cruise enthusiasts, Allianz Partners has unveiled a cruise-specific travel insurance product in collaboration with Norwegian Cruise Line (NCL). This initiative aims to provide comprehensive coverage tailored to the unique needs of cruise travellers. - read more

Allianz Partners Highlights the Risks of Travelling Uninsured

14 Dec 2025: Paige Estritori

Recent research commissioned by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade's (DFAT) Smartraveller program has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more

Surge in Medical Claims Among Australian Travellers Highlights Importance of Comprehensive Insurance

14 Dec 2025: Paige Estritori

In 2024, medical incidents emerged as the leading cause of travel insurance claims among Australian travellers, accounting for more than 40% of all claims handled by nib Travel. This trend underscores the critical importance of securing comprehensive travel insurance to mitigate the financial risks associated with medical emergencies abroad. - read more

Rising Travel Insurance Claims Among Australians Visiting Bali

14 Dec 2025: Paige Estritori

The allure of Bali continues to captivate Australian travellers, with a notable 43% increase in travel insurance policies purchased for the destination since the 2022/23 summer season. This surge has corresponded with a 50% rise in related insurance claims, now accounting for 16% of all claims submitted to Southern Cross Travel Insurance (SCTI) in 2024. - read more

Unveiling Hidden Exclusions in Travel Insurance Policies

12 Nov 2025: Paige Estritori

Australian travellers are being urged to carefully review their travel insurance policies to identify potential exclusions that could affect their coverage. Legal expert Peter Carter from Carter Capner Law highlights that certain activities, such as riding motorbikes or jet skis and consuming alcohol, are often classified as high-risk by insurers. Incidents occurring during these activities may lead to claim rejections. - read more

Click for more Insurance News

Travel Insurance Articles

10 Common Travel Expense Mistakes and How to Avoid Them

Travel can be an exciting adventure, but it often comes with a myriad of expenses that can quickly add up. From flights and accommodations to meals and entertainment, the costs can take a toll on your budget. - read more

From Flight Cancellations to Lost Luggage: Why Travel Insurance is Crucial

Picture this: You're all set for your dream vacation. Suitcases packed, tickets in hand, and the excitement building. But then, an unexpected disappointment hits. Your flight is cancelled. Suddenly, your well-laid plans are thrown into disarray. - read more

Visa-Free Travel for Australians: A Look at Some Exciting Destinations

Travelling is one of life’s great joys, and for Australians, visa-free travel opens up a world of opportunities. The convenience and freedom that come with not needing a visa cannot be overstated. With just your passport in hand, you can explore countless destinations without the hassle of paperwork. This kind of travel liberty offers a spontaneous, exhilarating experience, allowing you to book a last-minute trip without worrying about securing a visa beforehand. - read more

How to Choose the Right Travel Insurance for Your Overseas Holiday

Travel insurance is an essential component of any overseas trip, especially for Australians. While exploring new destinations and experiencing different cultures can be exciting, it's crucial to be aware of the potential risks and challenges that can arise along the way. From unexpected medical emergencies to lost luggage or trip cancellations, unforeseen events can quickly turn your dream holiday into a nightmare. - read more

Australia's Most Affordable Destinations for Budget-Conscious Travelers

Australia, renowned for its stunning landscapes and vibrant cities, can seem dauntingly expensive for travelers. However, exploring this vast country on a budget is not only possible but increasingly popular among Australians. The thrill of uncovering hidden gems and experiencing diverse cultures without overspending has made budget travel a desirable option for many. - read more

Knowledgebase

Endorsement:
An amendment or addition to an existing insurance policy that changes the terms or scope of the original policy.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.