you are not logged in | login or join us

Weather News

Cheaper Roma flood insurance depends on levee

By Fidelis Rego, Tuesday November 27, 2012 - 12:48 EDT

Queensland's biggest insurer Suncorp says Roma residents in southern inland region will only see a drastic reduction in flood premiums when construction on a levee begins.

The Maranoa Regional Council has been given $3.5 million in state funding towards building levee banks around the southern inland town.

Suncorp says it is reviewing a decision it made in May not to write new flood insurance policies.

However, Suncorp spokesman Marcus Taylor says it is too early to reduce premiums for existing customers.

"Once it's fully committed, once we start seeing construction we can then reprice premiums," he said.

"People will see premiums around 70 per cent less, once the proposed work is completed and more importantly residents and businesses in the area will be better protected.

"We have given a commitment to review our position out there and we will be going out there to have a chat to the local government representatives.

"However, we will still want to see full construction be completed before we do a full revision on premiums."


- ABC

© ABC 2012

More breaking news

ABC News
Sydney Morning Herald
National Nine News
News Limited

Site search


Enter a postcode or town name for local weather, or text to search the site. » advanced search

Tasmanians brace for more wild weather as damage bill mounts

ABC image 17:44 EST Tasmanians are bracing for more wild weather as the state mops up from destructive storms and flash flooding in the past two days.

Help with Weatherzone