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Victorian Bushfires - latest

NIBA is represented on the Insurance Taskforce for Victorian Bushfires 7/8 February (Cat 093).

Stakeholders held a meeting with Minister Tim Holding yesterday. The Minister expressed his thanks that the industry has moved so quickly to pay emergency payments and prepare for the rebuilding effort. There was significant discussion about the challenges ahead and there appears to be current understanding at the political level that the rebuilding process will take considerable time.

According to the Insurance Council, there also appears to be a level of understanding that insurers are ready to proceed with claims management, however, whilst many policyholders are unable to return to their properties to ascertain if damage has occurred and follow through with an insurance claim, there is little that can be done immediately. The MBA and HIA were able to provide the Minister with a positive view regarding trades availability and highlighted some planning administration issues that may impact on the rebuilding effort.

Commissioner Christine Nixon of the Victorian Police has resigned from the Police Service and will head up the Victorian Rebuilding Authority (name to be settled). A meeting is being sought by Minister Holdings office on our behalf with Ms Nixon, once details are known a general request will be sent to all insurers who wish to attend with the Insurance Council. Insurers who have not already done so have been requested to provide, by reply email, the locations outside of metropolitan Melbourne where they have deployed claims staff to assist with customer enquiries. Minister Holdings office is likely to publicize these locations shortly.

Minister Holding’s office will also be responding to the Insurance Taskforce shortly on the following issues:

  • Government expectations of a rebuilding timeline that is likely to take 24 - 36 months or longer.
  • Government assistance arrangements for the underinsured.
  • Government approach to probate issues.
  • Government cooperation for waste and debris management.
  • Concerns over asbestos disposal and management in Victoria.
  • Government facilitation of building approvals, not only for rebuilds, but for property changes where consumers take the opportunity to enlarge or alter properties.

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