A sunburnt country – storms, surges and sea levels : of insurance and flooding rains

Cradduck, Lucy & Teale, John (2014) A sunburnt country – storms, surges and sea levels : of insurance and flooding rains. Geography Research Forum, 34, pp. 123-141.

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Abstract

Increasing population pressures and life-style choices are resulting in more people living in areas that are at risk of inundation from rising sea levels and flooding. However, following natural disaster events, such as the 2011 Queensland floods, many Australians discovered they were uninsured. Either their insurance policies did not cover flood; or multiple (and confusing) water-related definitions led them to believe they had cover when they did not. Several theories are analysed to try to explain what is a world-wide underinsurance problem but these do not provide an answer to the problem. This research focuses on uncovering the reasons consumers fail to adequately insure for flood and other water-related events. Recent Australian legislative attempts to overcome insureds’ confusion of water related definitions are examined for this purpose. The authors conclude that Australian and other) legislators should set a maximum premium for a minimum amount of flood and sea related cover; and restrict the building and style of homes in flood prone areas.

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ID Code: 79224
Item Type: Journal Article
Refereed: Yes
Keywords: flood, sea level, insurance, Queensland, documentary literacy, town planning, CEDM
ISSN: 0333-5275
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Commercial and Contract Law (180105)
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Property Law (excl. Intellectual Property Law) (180124)
Divisions: Current > Research Centres > Commercial & Property Law Research Centre
Current > QUT Faculties and Divisions > Faculty of Law
Current > Schools > School of Law
Deposited On: 04 Dec 2014 22:58
Last Modified: 20 Mar 2015 22:47

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