A report commissioned by Financial Counselling Victoria focused on the experience of the service's clients following floods in Victoria in 2022.Government action is needed to stop flood victims worn out from fighting long battles with insurers from accepting unfair low-ball cash settlements for their damaged homes, the author of a new report says.
Dr Settle's report, commissioned by Financial Counselling Victoria, drew on the experience of the service's clients following widespread floods in Victoria in 2022. He said cash settlements being too small to rebuild properly also revealed other problems, including under-insurance and changes in building standards that increased costs.
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