Rising pressure on the Federal Government to broaden the scope of the cyclone reinsurance pool to include flooding more widely was discussed on the latest Insurance News podcast.

The Queensland and NSW catastrophe, and particularly the inundation of Lismore, has highlighted that flood insurance and affordability is not just a problem in cyclone-prone regions.

Panel members observed that changing the current pool proposal would be challenging ahead of a planned July introduction, and not everyone is in favour of extending its mandate to provide broader catastrophe cover.

This week’s edition of INsight, hosted by Insurance News Managing Director Andrew Silcox, features the observations of Insurance News Publisher Terry McMullan, Managing Editor John Deex and Deputy Editor Wendy Pugh.

The podcast panel also discusses other measures for addressing flood risk, the lack of data around underinsurance and a renewed push by consumers to standardise cover term definitions and exclusions.

You can find previous episodes of INsight published here.