There’s been an absence of widespread floods over the past few years, and the lawsuits against insurers from the last lot of major floods have all pretty much been resolved. But insurers and the Australian Securities and Investments Commission (ASIC) are aware that come the next flood, the furore will all start again. So ASIC has taken the unusual step of warning consumers to check whether they have cover for flood.

ASIC Executive Director of Consumer Protection Greg Tanzer said they should check for storm, flood, flash flood and payout provisions.

He said making a claim can be stressful and confusing for some people. “By satisfying your insurer’s requirements properly, you can maximise the success of your claim.”