Industry Rallies Behind Flood Victims

Get a quote

In response to the devastating floods in Queensland, New South Wales and Victoria, the financial services industry is offering significant practical and financial support for the flood victims and their families.

Announcements of support made by the Government, adviser associations and life companies to date include:

Federal and Queensland Governments

The Federal and Queensland Governments met with insurance companies and industry representatives on Friday 14th January to assist in the resolution of claims stemming from the devastation caused by the floods.

Treasurer Wayne Swan and Assistant Treasurer Bill Shorten also worked with the big four banks, the Bank of Queensland, Suncorp and the Bendigo Bank who have all agreed to a moratorium on foreign ATM fees in Queensland’s flood declared postcodes.

Association of Financial Advisers

The AFA Foundation has launched an appeal for victims of the Queensland floods. AFA Foundation Chair, Brian Boggs said, “It is truly heartbreaking to see the devastating floods sweeping throughout Queensland and Northern NSW. Our thoughts and prayers are with those and their families during this natural disaster.”

Anyone wishing to contribute can do so by visiting the AFA website.

Financial Planning Association

The FPA is showing its support for victims of the Queensland floods with the offer of free financial advice to affected residents.

The FPA has established the Financial Planning Pro-Bono Referral Service to connect people affected by the floods with a local financial planner.

“It is important to the FPA and our members to be able to support flood victims and the best way for us to do this is by providing free, professional advice to help people get back on their feet at a time when many are struggling to cope with the loss of homes, personal possessions and probably their financial records,” said Mark Rantall, FPA CEO.

Financial Services Council

The FSC’s members are:

  • Advance paying a portion of life cover to affected families of flood victims on a case-by-case basis
  • Fast-tracking flood related inquiries through all channels, including boosting available resources for call centres
  • Dedicating resources to ensure that claims are assessed swiftly and compassionately
  • Proactively identifying customers who live in flood affected postcodes in anticipation of potential claim

Asteron has expressed its concern and pledged funds via the wider Suncorp Group. In addition, any new claim notifications relating to flood claims will immediately be referred to and tracked by the First Response Team in Claims.

Any advisers who are personally effected, or have clients impacted that need special consideration from Asteron or Suncorp Life should contact the Customer Service Centre on 1800 221 727.


MLC has established a dedicated email address for any queries relating to the QLD and Northern NSW floods which is

MLC will be offering premium relief on MLC Life Insurance policies for those Qld and Northern NSW residents experiencing financial hardship as a result of the floods. Each case for premium relief will be assessed on its particular circumstances, and a consultant will confirm the premium relief MLC will be able to offer.

This summary is not intended to be compared but rather seen as a combined industry response. Further initiatives from a number of these organisations are set to be announced in the coming days and weeks.


Helpful insurance info

We compare insurance options from Australia's most trusted providers:

About MultiCover

MultiCover is a free service designed to provide you with easy access to a range of financial service specialists that cover the important things in life, Family, Work and Play. Simply choose and select from a range of options.

We aim to provide you with not only choice in financial services and products, but also options in how you can shop, compare and select these financial products and services. Many of our customers like to speak directly with a specialist about the product or service they are considering, gaining the benefit from their experience and customising a solution. Others prefer

learn more about us

Insurance Info

Visit our channel

MultiCover is a referral service and not a financial service provider. The information on our website and other documentation is of a general nature only and does not take into account your personal financial situation, needs or objectives. None of this information is, or shall be deemed to constitute financial and/or other advice to purchase a product or service. We strongly recommend that you obtain professional advice prior to purchasing any financial product and/or service. Please see our site Terms of Use and Privacy Statement for more information.

We need some information about you to get started:

*Submitting your details and agreeing to our terms of use enables us to connect you to a Synchron insurance specialist who will provide the quote by email or phone.


Get an insurance quote