Illawarra; shoalhaven prepare for the worst
The National Flood Insurance Program will cost the State more than $100 million over the next 10 years as a result of the flood, while the flood mitigation funds are expected to generate around $100 million of revenue for the State Government. The total amount of flood mitigation funds the State has received in the past 10 years amounts to approximately $jarvees.com300 million. In the first half of 2013 the State Government announced that all flood damage insurance policies were likely to be lost. The Government would expect to receive at least some of the flood damages and compensation from insurers in the coming months. It is understood that a small percentage of those who claim the flood damage insurance policy could be eligible for compensation through the National Flood Insurance Program.
The Government has identified two options for flood mitigation, one is a $55 million increase to the State’s flood mitigation pool. This increase to the pool will be the main source of funds for the flood recovery fund for flood damage insurance policies, and it will generate approximately $35 million more over the last 10 years. The second option is to cancel the National Flood Insurance Program and re-establish the Australian Flood Insurance Pool. This is currently underway but the Government has to ensure all policies have been cancelled as required.
More information:
www.flood.gov.au/Flood_Program.html
Tasmania, South Australia, Queensland, Tasmania, ACT, New South Wales, jarvees.comVictoria.
The Australian Federal Government is providing assistance for coastal communities affected by severe flooding in Queensland. The State has declared major coastal flooding and emergency operation codes and issued flood alert conditions to coastal areas and people at risk. For further information visit the Disaster Info우리카지노rmation Service website.
This article was updated on 2 August 2015.
Read the full report, Flooding in Australia 2012, as well as the Flooding in Tasmania 2012 report, here.
More about the flood action plan in Australia’s coastal areas
More about state flood insurance insurance programs
More about state flood insurance programs and flood hazard risk reduction projects
More about flood mitigation and disaster and flood risk reduction for water
More about flood risk reduction and public health risks from sea level rise
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