Some insurers are reducing cover for areas at risk of disaster.
One 32-floor resident had his contents cover not renewed because of flood risk.
Some databases can’t incorporate if unit residents have ground storage.
The resident of a 32nd-floor apartment has been refused insurance for his television and furniture because the unit is located in a building considered a high flood risk.
The decision by general insurer Auto & General to decline to renew a contents policy is the latest example of how some parts of the sector are denying coverage to customers, sometimes called de-insuring, because of concerns about disasters.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
