Scott Morrison’s warning to ‘penny pinching’ insurers amid flood crisis

Scott Morrison says the government is monitoring insurance companies and addressing the housing crisis as part of its flood disaster response.

Prime Minister Scott Morrison says the government is monitoring insurance companies and addressing the housing crisis as part of its flood disaster response.

As fears of insurance companies “penny pinching” flood affected individuals rise, Mr Morrison said the government was watching the issue.

“This week, Bridget McKenzie, the Minister for Emergency Management and Disaster Resilience and Recovery, has been meeting with the insurance companies and the banks just to monitor their response to the flood events, not just in the Northern Rivers but right across the country,” Mr Morrison said today.

“It’s not just a question of calling out insurance companies when they don’t do the right thing,” he said.

“But we also have to work together, councils, state governments, and the federal government, to ensure the resilience and adaptation policies are in place that can make more places insurable.”

Thousands of homes have been damaged by flood waters rendering them uninhabitable with homeowners looking to either sell or rebuild their properties.

However ongoing property checks have left many people without adequate housing, with many individuals facing permanent losses without home insurance.

Currently, the NSW government has initiated a $285 million housing package, half of which is funded by the commonwealth, which includes temporary rent assistance and temporary income support.

As flood affected communities look to move into the recovery and rebuild phase, Operation Flood Assist has shifted to aid councils in the clean-up process.

4000 personnel have been deployed across NSW and a further 6000 in other flood affected communities across Australia.

Mr Morrison also announced that a further 20 mobile homes had been issued to Lismore to help temporarily house flood affected individuals.