Flood failure to future fairness

This report outlines the findings and recommendations from a year of investigation by the House of Representatives Standing Committee on Economics in the aftermath of the 2022 floods across Australia. This report examines the three “P”s of flood insurance: policyholders, pooling, and preparation. It also contains 86 recommendations that were supported by all Committee members. 

The implementation of these recommendations will lead to better claims management, more transparent reporting of insurer performance, lower premiums for households exposed to a high risk of flooding, and improved long-term strategies for flood preparation and resilience. The report highlights that policyholders must be treated better, pooling mechanisms need to be strengthened, and preparation needs to be given more priority