Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Link to this | Hansard source

I move:

That the Senate—

(a) notes that:

  (i) recent bushfires have resulted in thousands of insurance claims being filed by affected residents,

  (ii) the General Insurance Code of Practice is a voluntary code that is not enforceable by regulators,

  (iii) insurance contracts are not currently subject to laws protecting consumers against unfair contract terms, and

  (iv) the handling and settling of insurance claims is not considered a financial service and, as such, licensees are not subject to the general obligations to do all things necessary to ensure the service is provided efficiently, honestly and fairly; and

(b) calls upon insurance companies to act with integrity, and to be as sympathetic and as prompt as is possible, when assessing and settling claims made by people affected by the recent bushfires.

Question agreed to.

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

Mr President, I request leave to make a short statement.

Scott Ryan (President) Share this | Link to this | Hansard source

Well, leave can be sought at any time. Is it in regard to the motion just passed?

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

Yes, it is.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Lambie is seeking leave for one minute to make a statement about the motion just adopted by the Senate. Is leave granted? Leave is granted for one minute, Senator Lambie.

Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Link to this | Hansard source

I support this motion, but I have to say: these bushfires are going to be a real test for the big insurance companies. They've been shown up in the royal commission for delaying claims for people impacted by cyclones and hailstorms, not to mention the floods that we had in Tasmania a few years ago. One insurer admitted it had breached the insurance industry's code of practice in its handling of compensation claims for Cyclone Debbie. And do you know what sort of penalty it faces for breaches like that? Nothing. There are no penalties—absolutely nothing. It's just another example of companies writing their own rules and conveniently forgetting to write the penalties for them when they break the rules. They sell these insurance products to people by telling them, 'You need to protect your family and your property,' and when you need it they tell you to bugger off; you're just a cheque to them. I think everybody out there has had a gutful of these insurance companies. This is a real test, and I really hope they lift their game. I'll tell you something though: I'm not holding my breath.