STATEMENTS BY MEMBERS

Ms TEMPLEMAN (Macquarie) (13:37): I want to put access and affordability of insurance in the flood-prone areas of Macquarie in the spotlight. Andrew Hall, the CEO of the Insurance Council of Australia, recently joined me in St Albans with Macdonald Valley residents to discuss the complex issues the government's working on with industry. As the Macdonald Valley Association's secretary, Catherine, acknowledged, this 'vexed' issue is one where 'there are no simple solutions but understanding the issue is very helpful'.

Megan Vicary of Yarramundi has also recently shared how her insurance premiums are now above $30,000, which is simply out of reach. There are 242,000 homes in Australia that are at the highest flood risk, and more than 186,000 are not insured. This is a vexed issue, and it's one I've been working on since seeing my flood-prone communities impacted by multiple floods in recent years.

Insufficient or no insurance coverage complicates post-disaster recovery efforts and creates real anxiety for people. That's why the Hazards Insurance Partnership, which brings together the Albanese government and the insurance industry, is so important. Its main goal is to reduce risk so that there's downward pressure on insurance affordability, and we want to try and improve availability.

But there is much more to do to support communities that face flood, and I'll continue to work on this issue with Minister Mulino, the sector and my community so people have a way of protecting their major asset.