House of Representatives Committees

| House of Representatives Standing Committee on Social Policy and Legal Affairs

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In the wake of disasters: The operation of the insurance industry during disaster events (volume 1)

27 February 2012

© Commonwealth of Australia 2012
ISBN 978-0-642-79619-6 (Printed version)
ISBN 978-0-642-79620-2 (HTML version)

View the report as a single document - (PDF 1774KB)


View the report as separate downloadable parts:

Preliminary Pages (PDF 137KB)
 
Chapter 1 Introduction (PDF 119KB)

Purpose of inquiry
Scope of inquiry
Relevant reviews and inquiries
Australian Securities and Investments Commission Reports
Queensland Floods Commission of Inquiry
Natural Disaster Insurance Review: Inquiry into flood insurance and related matters
Conduct of the inquiry
Structure of the report

 
Chapter 2 The general insurance industry in Australia (PDF 103KB)

Background to the general insurance industry
Regulatory framework
Contract law
Government bodies
Insurance Council of Australia
Financial Ombudsman Service

 
Chapter 3 General Insurance Code of Practice (PDF 126KB)

About the Code
Proposed amendments
Monitoring and enforcement of the Code
Effectiveness
Committee comment

 
Chapter 4 Lack of consumer awareness (PDF 124KB)

Insurance contracts
Policy coverage
Underinsurance
Committee comment
Consumer awareness of rights in making a claim
Committee comment

 
Chapter 5 Lack of consumer protections (PDF 172KB)

Claims handling process
Delays in processing claims
Third-party assessments
Independence and accuracy of third-party assessments
Lack of information
Difficulties with communication
Access to documents
Committee comment

 
Chapter 6 Dispute resolution processes (PDF 149KB)

Internal dispute resolution
Consumer awareness of IDR
Timeliness
Effectiveness
Committee comment
External dispute resolution
Duty of insurers
Barriers to participation in EDR
Impact of legal aid
Effectiveness of dispute resolution
Committee comment

 
Chapter 7 Recommendations (PDF 157KB)

Insurance contracts
Standard cover
Standard definition of flood
Unfair contracts terms
Claims-handling process
Managing disputes
Topics for further investigation
Premium increases
Emotional impact

 
Appendix A—List of Submissions (PDF 39KB)
 
Appendix B—List of witnesses appearing at public hearings and community forums (PDF 78KB)
 
Appendix C—List of Exhibits (PDF 40KB)
 
Appendix D—Survey results (PDF 224KB)

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