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Weekend Sunrise -

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(generated from captions) are being inundated with claims Insurance companies will be paid out? but just how many of them The disaster's led to renewed calls to be overhauled. for our entire insurance system is Independent Senator Nick Xenophon One of those calling for change who joins us now from Adelaide. are going to do the right thing? Do you think insurers

With the floods through Queensland?

Well, you would expect them to do

the right thing, given the

of the disaster. Suncorp has said the right thing, given the magnitude

some very encouraging things. There

are so many insurers that will try

and Wiggle out of it or take a very

hard line and that's why we need to

have a nationally consistent

approach when it comes to

definitions of flood insurance and

that's the first thing but the other

thing for those homes who contribute

get flood insurance, we need to look

at a Nat floot flood insurance

scheme as they have had in the US

for over 40 years.

So, how would that work?

Well, in the US, since 1968, those

homes that can't get insurance, they

are a scheme in place where people

can still get support. Still get

insurance, but it comes with it the

responsibility of having

mitigation programs, having flood responsibility of having flood

management programs so you can

reduce the risk. That's the issue

here, there are those that have

shoornd r insurance, haven't got

insurance, those that can't get

insurance because they are in a

flood plain areas. So I don't think

it's tenable to have hundreds of

thousands of Australians who could

be left in the lurch without any

form of flood insurance.

It's all in the fine print, at any

time it? The fine print of your

insurance policy that most of us

never read, because even though you

might be covered for flood

insurance, the definition of flood

insurance changes from company to

company. Now, what we are doing here

on Sunrise, is we want a consistent

approach from every insurance

company. Everyone should have flood

coverage and it should be a very

simple definition. Now, Anna Bligh

is supporting us and her Treasurer, Wayne is supporting us and her Treasurer,

is supporting us and her Treasurer, Wayne

Wayne Wayne Swan as well. That's a great start, at any time it

It's a great start. I am on the

Senate economics committee. I will

be pushing for a good look at that,

sooner rather than later. As soon as

Parliament gets back in. We need to

have a approach. These people who

have been affected by these floods,

don't have the emotional reserves,

let alone the financial reserves to

take on an insurance company, that's

why, where there are grey areas,

there needs to be access to quick

and easy and cheap or free legal

advice so people can at least have

someone advocating for them.

There should be no grey area, would

you believe the

you believe the Australian council

of Australia and the Federal

government, all persuasion, had been

discussing this since 2003, 8 years,

there has been a taskforce on it

trying to figure this out with no

conclusion, give me a break. You've

got to have action now. 8 years is

buck. insurance companies just passing the

Well, that's why I want to have a

Senate inquiry that can report back

in something like weeks rather than 8 years because this

8 years because this is absolutely

urgent. I think that the so-called

experts that have been looking at

this, haven't done their job. We

need to act on this immediately.

That's why this has to be given a an absolute priority.

Can you keep us up to date on your

end on how you go.

Absolutely, pleasure.