Building Bans and Buybacks Floated for Flood Zones

Housing developments in flood-prone areas should be banned and properties in very high-risk areas must be eligible for buyback schemes. That’s according to a federal parliamentary inquiry into the responses from insurers to major flood claims, which also called for changes to processing procedures including cash settlements. Flood emergencies in NSW, Victoria, Queensland, and Tasmania over a period of 10 months in 2022 led to a record 300,000 insurance claims.  More than two years later, many people were still waiting to move back into their homes. “Long delays due to poor communication and disputes over causation resulted in emotional, mental health, and financial strains for many families,” Labor MP and committee chair Daniel Mulino said....