Community meeting: flood risk and insurance
FOLLOWING inquiries by the Daily News and members of the Tweed community, the council will hold a community seminar regarding flood risk and insurance premiums on Tuesday, December 10.
The seminar, to be held at Banora Point Community Centre from 6.00-7.30pm DST, will discuss how flood risk data affects home insurance premiums.
Independent financial education provider Future Map will present the seminar, which will also discuss ways to mitigate flood damage.
The event will feature a panel discussion with representatives from Council, the State Emergency Service (SES) and NRMA Insurance, who will be available to answer questions.
"There has been a lot of recent community discussion about home insurance premiums in the Tweed and how they relate to flood risk mapping for the area," Mayor Barry Longland said.
"This forum is a very welcome opportunity for these issues to be clarified and for members of the community to have their queries answered."
Tweed Border Mail's sister publication the Daily News first rose the issue of inflated premiums due to flood risk with Tweed Council on September 14.
Thousands of Tweed properties were incorrectly classed as at high risk of flood, despite varying individual circumstances.
Misguided information added to the National Flood Information Database (NFID) was used by insurance companies, meaning a property well above sea level could pay the same exorbitant insurance premium as a risky riverside home.
The Insurance Council previously told the Daily News it relied on information provided by local councils, adding the data to the NFID to assess risk
Council's acting general manager Troy Green said council's flood risk data was indeed passed over to the Insurance Council of Australia, in good faith it would be used to accurately evaluate risk.
A series of reports followed, culminating in Mr Green saying residents could lower the price of their premiums by proving to insurers they were not at risk of flood.