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Reinsurance Pool for Cyclones and Related Flood Damage

The Government is seeking stakeholder views on exposure draft legislation for the establishment of a reinsurance pool for cyclones and related flood damage.





The draft legislation would establish a reinsurance pool for cyclones and related flood damage, to commence from 1 July 2022 and be backed by a $10 billion Government guarantee. The draft legislation would also enable the Australian Reinsurance Pool Corporation to administer both the cyclone pool and the existing terrorism reinsurance scheme.


Read more here.

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