Stephen Jones 2022

Today, the Assistant Treasurer will give notice to the House of Representatives tabling a motion to establish a Parliamentary Inquiry into insurer responses to the 2022 floods. The motion will be presented to the house on the next day of sitting, Monday 7 August.

The inquiry will take a whole of economy view of the ongoing challenges faced by intense and frequent flood events.

MADELEINE MORRIS:

This morning we've been bringing you the story of Angela Fitzwater who lost $26,000 in two bank scams this year. She says the response of Bendigo Bank has compounded her distress. The federal government has promised it will force banks to do better by scam victims with a Code of Conduct.

BEN FORDHAM:

The Albanese Government has taken another step to protect small businesses and their customers, by making important improvements to the Consumer Data Right.

ANDREW GEE:

Thank you very much for coming out to Eugowra today, folks. We really do appreciate it.

A new eInvoicing Hub has been established for businesses in the Hunter region of New South Wales to help boost efficiency and combat scams.

Today, the Assistant Treasurer joined with Andrew Gee, Member for Calare, to announce a parliamentary inquiry into insurers’ response to the 2022 floods. The announcement follows visits to the flood‑affected towns of Molong, Eugowra, and Cudal.

The inquiry will take a whole‑of‑economy view of the ongoing challenges faced by intense and frequent flood events.

Introduction

I would like to acknowledge the Gadigal people of the Eora Nation, the traditional custodians of this land, and pay my respects to the Elders past, present and emerging.

I reiterate the Albanese government’s commitment to the Uluru Statement from the Heart and a Voice to Parliament.

I acknowledge any First Nations Australians with us today.

As of 1 July 2023, 65% of all Australian home insurance policies are now covered by the cyclone pool. Three of the four major insurers; Allianz, QBE and Suncorp have now joined the pool, this is a great result, exceeding predicted timelines for coverage of policies by the cyclone pool.

The Albanese Government welcomes the report of the Financial Regulator Assessment Authority (FRAA) into the effectiveness and capability of the Australian Prudential Regulation Authority (APRA).