Productivity Commission and industry to meet on natural disaster funding review
Productivity Commission in a panel forum to discuss the future of natural disaster funding.
The Productivity Commission will meet insurance industry leaders in a panel forum to discuss the future of natural disaster funding in Australia, the Australian and New Zealand Institute of Insurance and Finance (the Institute) has announced. The panel will follow the Commission’s preliminary report, which will be released this month.
Karen Chester, the Commissioner responsible for the public inquiry into Natural Disaster Funding, will participate in the event with representatives from insurers and the Insurance Council of Australia.
“A significant part of Australian insurance could be affected by recommendations coming from the Productivity Commission report. This is the industry’s opportunity to understand how natural disaster funding might change and, very importantly, to have its views on this very important subject heard by those who are advising the Federal Government,” said Prue Willsford, CEO of the Institute.
In 2014, the Australian Government asked the Productivity Commission to undertake a public inquiry into current national natural disaster funding arrangements, taking into account the role of and future of insurance, natural disaster mitigation and the reduction in the impact of disasters on communities.
The panel will include:
- Karen Chester – Commissioner, Productivity Commission
- Nicholas Scofield – General Manager, Corporate Affairs, Allianz Australia
- Karl Sullivan – Insurance Council of Australia
- Lisa Harrison – Executive General Manager, Customer Product and Pricing, Suncorp
- Stephen Brunker – MC / Host – Treaty Account Executive at Gen Re
