Insurance inquiry hears companies failed flood-impacted residents in NSW central west towns of Eugowra, Molong

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Flood News

Insurance,Central West NSW,Eugowra

One business owner told the inquiry she was asked why her $20,000 photocopier had been on the floor when a 2m torrent of water inundated her shop. Others say they were pressured to accept low payouts after long delays.

A federal parliamentary inquiry has travelled to central west NSW to hear from residents about the conduct of insurers following devastating flooding.

The House of Representatives Standing Committee on Economics is examining insurers' responses to four major flood events in 2022, which affected Queensland, New South Wales, Victoria and Tasmania. She said there had been clear issues across the board with how policyholders had been treated following the floods.

"Many people have experienced breakdowns of relationships, declining mental health as a result," she said.Molong businesses pay their own way to reopen Solicitor Kirsty Evans said the delays and complicated claims processes had had a significant impact on the town.And she said those that had reopened had pulled money off their home loans and farming businesses.)

 

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