An insurance roundtable hosted by Assistant Treasurer Stephen Jones will take place in Cairns tomorrow, with discussions expected to focus on the response to Cyclone Jasper and subsequent flooding, and the design of the cyclone reinsurance pool.

insuranceNEWS.com.au understands that Mr Jones will be joined by Finance Minister Katy Gallagher, Queensland Senator Nita Green, as well as Queensland MPs and local mayors.

Insurance Council of Australia CEO Andrew Hall will attend, along with IAG CEO Nick Hawkins, Suncorp CEO Steve Johnston, QBE local CEO Sue Houghton, and Allianz CEO Richard Feledy. Executives from RACQ Insurance, Sure Insurance, Hollard, Youi and Auto & General are also expected to be there.

An agenda has not been published for the 12.30pm meeting, but participants expect the response to recent floods and the structure of the cyclone reinsurance pool will likely be addressed.

“Nobody knows what the government wants to talk about, but this is quite a gathering,” one source said.

Insurers may wish to address apparent government confusion around the operation of the pool in the wake of Cyclone Jasper.

Federal Emergency Management Minister Murray Watt appeared to accuse insurers of trying to “pass the buck” and avoid claims that fell outside the remit of the pool, which only covers cyclone damage and cyclone-related flooding up to 48 hours after the end of a cyclone.

“I am disgusted with some of the comments of some insurers we have seen over the past 24 hours, who are trying to create the impression that because of issues with the cyclone reinsurance pool, that people won’t be able to claim their insurance,” Mr Watt said last month.

The comment was refuted by insurers, who have always been aware that the pool has no impact on a consumer’s coverage, which is outlined in the customer’s policy with their insurer.

“The reinsurance pool is an agreement between insurers and the government,” the ICA told insuranceNEWS.com.au.

“Customers in North Queensland should not be concerned about the reinsurance pool, it will not impact their ability to make a claim.

“The government has made a commitment to review the pool, and insurers look forward to participating in that process whenever it happens. The ICA is supportive of anything that improves the insurance outcomes for customers. 

“The ICA looks forward to participating in the insurance roundtable this week and is committed to working with government and industry partners as communities continue to recover.”

Suncorp today said it has again bolstered its ground support to help progress claims.

“I have been on the ground in Cairns and the South East and the damage from these severe weather events has been devastating,” CEO Steve Johnston said.

“In Queensland, we have already finalised nearly a quarter of claims and I want to thank our teams for working as quickly as possible to get these completed."

ICA says insurers have received 60,518 claims from the storms which swept the eastern states this month and last month. Another 6924 claims have been received from flooding that followed Cyclone Jasper.

The ICA and insurers will be in far north Queensland later this month to provide additional support for customers.

In-person consultations will be available in Port Douglas on January 23 and in Cairns on January 24, and include a community townhall and one-on-one meetings with insurers.

Policyholders are encouraged to book an appointment.