Tonight on abc730: Almost a year after the country's most costly natural disaster, the hardest-hit areas in northern New South Wales are grappling with a future where many homes, businesses and even local councils are uninsurable.
Three neighbours on the same flood-affected street want answers about large discrepancies in their insurance claimsThe insurance industry says governments need to address flood risks before the market can return to a "more normal" level
The couple have home insurance, but like many in this high-risk area, they opted out of flood coverage due to costly premiums. The pair lodged an insurance claim with Allianz, hoping it would compensate them for stormwater damage to the laundry, work shed, pool, gardening and camping equipment and downstairs walls.
"You hear other houses getting payouts for stormwaters and we've been denied, it's pretty heartbreaking," Ms Adams said.No insurance claim is the same, and each varies in its individual circumstances and complexity. She said one of the main issues was whether damage to homes was caused by stormwater or riverine flooding.
Even before the record-breaking February flood, many Lismore business owners said full flood coverage was either beyond their means or not available at all. "Unfortunately, our risk profile has changed from an event that might happen to a foreseeable event," he said.Mr Green said the council had decided "the best use of public funds" would be moving assets out of the flood path.
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