Cash settlement issues

Ms Orr is questioning Mr Dransfield over suggestions that Wye River claimants were pressured to accept cash settlements, with concerns raised by the Australian Securities and Investments Commission.

Mr Dransfield says that based on previous bushfire experience, customers affected often preferred cash settlement, but the Wye River population included more holiday and investment properties.

He says there were “still discussions on-going” at the time ASIC raised its concerns.

The issue of significant differences between cash settlement sums offered based on a scope of works and much higher estimates customers received when they sought independent quotes, is also raised.

Mr Dransfield says the cash settlement figures were provisional and there was the potential, due to issues such as storm and waste water management, for final sums to be increased.