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Insurers warn of cutting flood cover options or even customers

Liam WalshReporter
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Key Points

  • The federal parliament is examining insurance and flooding. 
  • Some insurers are cutting customers, or dropping some special cover. 
  • Insurers also noted customers being more willing to take on risk themselves.

Insurers are warning of cutting some types of flood cover and even dumping certain customers following the devastating inundation that struck Australia last year.

Policyholders are also increasingly not renewing cover amid cost-of-living pressures and spiralling premiums, and others were wearing more risk themselves to keep their insurance costs down, the companies warned.

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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
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    Original URL: https://www.afr.com/companies/infrastructure/insurers-warn-of-cutting-flood-cover-options-or-even-customers-20231211-p5eqm7