• Debate over a common definition for “flood” to overcome the different definitions currently adopted by various Australian insurers. A variety of flood definitions have left policy holders with a high level of uncertainty in the case of a claim, particularly highlighted in the Brisbane floods of January 2011.

• Following the Royal Commission into the Black Saturday fire losses in northern Victoria, the state Government is looking at a more equitable means of funding their fire services. Currently, a levy based on insurance premiums is paid by property owners to cover the cost of the fire services, but people who don’t insure don’t contribute, which clearly isn’t fair. Fire Services levies and other government charges can add 50% to the to the cost of insurance premiums, with the Royal Commission finding this was a contributing factor in people being under-insured.