One mans pursuit of Flood and Drought insurance for Livestock

By: "Farm Tender" News
Hay & Fodder News
Apr 12, 2019
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Dear Fellow Australian Farmers,

My name is Brett O’Brien – I am Fellow of the Australian & New Zealand Institute of Insurance and Finance and 4th generation Australian Farmer.

My story is here: https://www.obaconsulting.com.au/gallery/

I write to you today as for the last 3 months I have endeavoured to push a movement for stock flood and drought insurance to be introduced into the Australian insurance market for Farmers.

Importantly 2 things have happened in the last 2 weeks as follows:

1. The Insurance Council of Australia (ICA) provided comment to InsuranceNEWS.com.au on the subject as follows: https://www.obaconsulting.com.au/insurance-news-industry-urged-to-back-flood-and-drought-cover-cover...

2. On the 4th April 2019 OBA Consulting received a letter from The Hon David Littleproud, Minister for Agriculture & Water Resources – letter here: https://www.obaconsulting.com.au/the-hon-david-littleproud-mp-response-to-oba-consulting-04-04-19/

In my email to the The Hon Scott Morrison, Prime Minister of 26th of February 2019 I suggested the Government set up website similar to the following:

http://nqhomeinsurance.gov.au/

Per aforementioned letter from The Hon David Littleproud the Government has announced the North Queensland Livestock Industry Recovery Agency: https://www.pmc.gov.au/domestic-policy/north-queensland-livestock-industry-recovery-agency

THE INITIATIVE

The North Queensland Livestock Industry Recovery Agency was announced by Prime Minister Scott Morrison on 1 March 2019 to assist with the immediate response, recovery and reconstruction efforts in support of North, Far North and Western Queensland communities affected by heavy rainfall and wide-spread flooding in early 2019.

This is a good outcome for Queenslanders yet more needs to be done to address this issue nationally:

In the course of the last 3 months, at my own expense, I have been in contact with the following persons / bodies (and several others):

Government:

• The Hon Scott Morrison;

• The Hon David Littleproud;

• The Hon Joel Fitzgibbon;

• The Hon Bob Katter;

Insurance:

• The Insurance Council of Australia;

• Rural figureheads of major Australian & International Insurers;

• Lloyds Australia and London;

• Steadfast;

• NIBA;

Media:

• Kerry O’Brien – Iconic Australian Journalist;

• Landline / ABC;

• Andrew Denton – Iconic Australian media identity;

• Key Media / Business Insurance News – syndicated globally;

• Insurancenews.com.au;

Agriculture:

• Meat & Livestock Australia;

• Angus Society of Australia;

• Cattle Council of Australia;

• Smithfield Cattle Company;

• AACo;

• National Farmers Federation;

In addition to the above I spoke with the ABC Landline program.

Thank you,

Brett

‘’It is said in life it is important to leave things, including your life, in a better state than you inherited them.

Currently Australian Farmers cannot insure their precious stock against the perils of drought and flood as the Australian insurance market does not offer such cover.

Introducing insurance for drought and flood for Farmers who lose stock consequent to drought and flood will improve the livelihood of farmers and farming landscape in this great country of ours for the current farming generation and those to follow’’

Brett O’Brien – Fellow of the Australian & New Zealand Institute of Insurance and Finance and 4th generation Australian Farmer