Footnotes

Chapter 1 Introduction

[1]       Natural Disaster Insurance Review, Inquiry into flood insurance and related matters, Executive Summary and Recommendations, September 2011, p. 1.

[2]       Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 3.

[3]       Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 3.

[4]       The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 23.

[5]       The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 23.

[6]       The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 23.

[7]       The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 23.

[8]       Treasury, Reforming flood insurance – Clearing the Waters, April 2011, p. 3.

[9]       Treasury, Reforming flood insurance – Clearing the Waters, April 2011, p. 3

[10]     Ms Sue Vroombout, Department of Treasury, Committee Hansard, Canberra, 8 February 2012, pp. 2-3.

[11]     The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 24.

[12]     The Hon Bill Shorten, MP, Assistant Treasurer and Minister for Financial Services and Superannuation, House of Representatives Hansard, 23 November 2011, p. 24.

[13]     Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 13.

[14]     Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 14.

[15]     The Hon Bill Shorten, MP, Assistant Treasurer, Minister for Financial Services and Superannuation, Media Release, 9 December 2011, Consultations on Draft Regulations Implementing the Standard Definition of Flood in Insurance Contracts.

[16]     The Hon Bill Shorten, MP, Assistant Treasurer, Minister for Financial Services and Superannuation, Media Release, 9 December 2011, Consultations on Draft Regulations Implementing the Standard Definition of Flood in Insurance Contracts.

[17]     The Hon Bill Shorten, MP, Assistant Treasurer, Minister for Financial Services and Superannuation, Media Release, 9 December 2011, Consultations on Draft Regulations Implementing the Standard Definition of Flood in Insurance Contracts.

[18]     This is available at: http://www.treasury.gov.au/documents/1995/RTF/clearing_the_waters_april2011.rtf

[19]     Treasury, Reforming Flood Insurance: Clearing the Water’, April 2011, p. 1.

[20]     For more details on this process, see http://www.treasury.gov.au/contentitem.asp?NavId=&ContentID=2259 and

         http://www.dpm.gov.au/DisplayDocs.aspx?doc=pressreleases/2011/165.htm&pageID=003&min=brs&Year=&DocType=0.

[21]     Natural Disaster Insurance Review, Inquiry into flood insurance and related matters, Executive Summary and Recommendations, September 2011, p. 1.

[22]     Natural Disaster Insurance Review, Inquiry into flood insurance and related matters, Executive Summary and Recommendations, September 2011, p. 3.

Chapter 2 Analysis of the Bill

[1]       Natural Disaster Insurance Review, Inquiry into flood insurance and related matters, Executive Summary and Recommendations, September 2011.

[2]       Natural Disaster Insurance Review, Inquiry into flood insurance and related matters, Executive Summary and Recommendations, September 2011,  Recommendation 34 (KFS) and Recommendation 36 (Standard definition of flood).

[3]       Mr Mark Radford, NIBA, Committee Hansard, Canberra, 8 February 2012, p. 1.

[4]       Mr Christopher Walsh, RACQ, Committee Hansard, Canberra, 8 February 2012, p. 2.

[5]       Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 2.

[6]       Mr Gerard Brody, CALC, Committee Hansard, Canberra, 8 February 2012, p. 2.

[7]       RACQ Insurance, Submission 3, p. 2.

[8]       RACQ Insurance, Submission 3, p. 2.

[9]       RACQ Insurance, Submission 3, p. 2.

[10]     Insurance Council of Australia, Submission 4, p. 1.

[11]     Insurance Council of Australia, Submission 4, p. 1.

[12]     Insurance Council of Australia, Submission 4, p. 2.

[13]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 3.

[14]     Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 4.

[15]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 4.

[16]     Insurance Council of Australia, Submission 4, pp. 2-3.

[17]     Insurance Council of Australia, Submission 4, p. 3.

[18]     Insurance Council of Australia, Submission 4, p. 3.

[19]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 4.

[20]     Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 4.

[21]     Mr Andrew Yeend, ICA, Committee Hansard, Canberra, 8 February 2012, p. 5.

[22]     Mr Andrew Yeend, ICA, Committee Hansard, Canberra, 8 February 2012, p. 5.

[23]     Mr Mark Radford, NIBA, Committee Hansard, Canberra, 8 February 2012, p. 6.

[24]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 5.

[25]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 5.

[26]     RACQ Insurance, Submission 3, p. 1.

[27]     RACQ Insurance, Submission 3, pp. 1-2.

[28]     Mr Mark Radford, NIBA, Committee Hansard, Canberra, 8 February 2012, p. 7.

[29]     Mr Andrew Yeend, ICA, Committee Hansard, Canberra, 8 February 2012, p. 8.

[30]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 6.

[31]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  pp. 6-7.

[32]     Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 7.

[33]     Ms Sue Vroombout, Department of the Treasury, Committee Hansard, Canberra, 8 February 2012,  p. 7.

[34]     National Insurance Brokers Association, Submission 2, p. 2.

[35]     National Insurance Brokers Association, Submission 2, p. 10.

[36]     National Insurance Brokers Association, Submission 2, p. 10.

[37]     National Insurance Brokers Association, Submission 2, p. 10.

[38]     Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 4.

[39]     Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 17.

[40]     Mr John Anning, ICA, Committee Hansard, Canberra, 8 February 2012, p. 17.

[41]     Explanatory Memorandum, Insurance Contracts Amendment Bill 2011, p. 3.

[42]     Consumer Action Law Centre, Submission 1, p. 4.

[43]     Insurance Council of Australia, Submission 4, p. 4.

[44]     Insurance Council of Australia, Submission 4, p. 4.

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