Constituency question

August 4, 2021

My question is to the Treasurer regarding fire insurance for Alpine resorts.

The winter season contributes more than $1 billion each year to our Gross State Product, though likely less in recent times due to bushfires and COVID.

Since the 2020 bushfires, fire insurance has become unaffordable and some resorts are without insurance completely, in breach of their lease and at substantial risk. Others have resorted to community insurance programs which are not authorised by APRA.

It has been conveyed to me that in order for the government to intervene and have Victorian Managed Insurance Authority take over as insurer, that it would require a ‘market failure’ which would necessitate the financial collapse of a significant alpine operator.

So I ask the minister, what the government will do to support alpine operators with this insurance debacle?