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Insurance industry was unprepared to handle 2022 flood claims

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It has been revealed the insurance industry was unprepared for the 2022 floods. In particular, they were not prepared for the severe weather which battered much of eastern Australia last year. A review by Deloitte has revealed old technology and a lack of skilled staff made disaster compensation a difficult experience for claimants.

In particular, they were not prepared for the severe weather which battered much of eastern Australia last year.

A review by Deloitte has revealed old technology and a lack of skilled staff made disaster compensation a difficult experience for claimants. The Insurance Council of Australia has said it will accept seven improvement recommendations in a bid to improve responses to natural disasters.

 

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