Fairfax Media Network

Weather News

Insurer urges council to provide latest flood data

Tuesday November 20, 2012 - 10:39 EDT

Westpac says Albury City Council should ensure the latest data on flood risk zones is handed directly to the insurance industry.

Westpac reversed its decision to increase an Albury customer's insurance premium by 500 per cent after receiving up-to-date information on flood risk zones from the council.

Westpac's head of general insurance, Jim Glossat, says any new information from the council should have been sent to the Insurance Council of Australia (ICA).

"Now the Albury council has not passed that information yet to the insurance council but our understanding is that information will be very shortly passed to the ICA so that it may be published in an NFID [National Flood Information Database] and other insurers will be able to rely on the information to price their products," he said.

He says the decision will also affect other customers in the region.

"Our national market share is approximately 4 per cent for the Albury region, we have around 500 odd customers of which less than 5 per cent are exposed to any kind of flood risk," he said.

Albury City Council says the information is readily available on its website and its zoning for flood risk areas has not significantly changed in recent years.


- ABC

© ABC 2012

More breaking news

ABC News
Sydney Morning Herald
National Nine News
News Limited

Display Your Local Weather

Weather News

Solid central Australian rain a bonus as pastoral company progresses with drought-proofing strategy aimed at selling heavier cattle

17:06 EDT

A Central Australian pastoral company says recent solid rain across its five cattle stations is a welcome bonus as it continues with a drought-proofing strategy.

Tropical Cyclone Tatiana intensifies, may bring dangerous swell to Queensland coast: BoM

16:18 EDT

Queensland's first cyclone of the season poses no immediate threat to the coast but may whip up dangerous swells for south-east beaches early next week, the Bureau of Meteorology (BoM) says.

ACT pummeled by storms

16:01 EDT

Dark and ominous clouds developed over southern parts of the ACT yesterday afternoon amid a deep and unstable low pressure trough.