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    Hi All,

    This is a bit of a ‘different’ thread and basically looking for others with similar stories.

    Insurance premiums on several policies I hold have increased over the last 12 months due to ‘automatic coverage’ for floods. On one property it increased by 86%. Apparently the Insurance Council of Australia, along with other bodies have created an indexing system (nation wide) to determine individual addresses and their risk of flooding (from low to high) – with no allowance for properties to have 0 chance of flooding. (My daily residential property is at the top/side of a mountain.. if it managed to flood then it would seem to suggest that we were all under water and not likely to be around to claim on the insurances anyway).

    Ironically, the property that increased by 86% is in Qld and not affected by the devastating floods earlier this year!

    Months of complaints and follow ups have led us to finally have it admitted that our property address has not actually been ‘indexed’ but that we can’t be told how it was rated as ‘high risk’ as this is ‘proprietary’ information! So, is starting to seem to us as though it was simply a ‘guess’ based on general area (the house is on a hill, hasn’t flooded in 100 years and the local council provided confirmation in writing to the Insurance Council that they do not consider it likely to flood at all, oh and apparently one of the parties involved in the mapping/indexing are the local councils – who in our suburb hadn’t heard or such a thing).

    Firstly, I would be interested to hear if anyone else has also had this happen and if anyone has had any luck in following it up and resolving any complaint relating thereto; secondly, looking for advice on where we can take the complaint to

    – Tried ACCC who have basically fobbed us off;
    – Been constantly told to speak to the Financial Services Ombudsman, who promptly told us this is not the type of complaint they handle.

    Looking forward to any thoughts on this one.


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