Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share 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.