Speaking of natural disasters, Victoria’s Bracks Government has stepped up efforts to raise funds for the 2003 Bushfire Recovery Appeal Fund, with heavyweight corporates now chipping in. Tattersall’s and Tabcorp will match dollar-for-dollar any cash donations made at their combined 1800 outlets and venues across Australia.

While there is no doubt that the funds will assist bushfire victims in rebuilding their lives, it is a bitter pill to swallow for those victims who were actually insured and therefore contributed to the state’s Country Fire Authority via the fire services levy (FSL).

Insurance Council of Australia Group Manager Southern Division Peter Jamvold said that while the Government appeal will provide immediate relief for people adversely affected by the bushfires, the tragedy does highlight the importance of people insuring their property. “And not just for people who don’t insure but for people who are underinsured and suffer not only devastation but then have no cover,” he said.

Mr Jamvold said the appeal also comes at the same time as the Government is reviewing the FSL and world record premium taxes.