Suncorp lifts insurance embargo
SUNCORP has reversed its highly unpopular 4305 embargo that was stopping Ipswich people from getting home insurance coverage.
The insurance company barred people with the central Ipswich post code from obtaining new policies after last month’s floods.
Ipswich Mayor Paul Pisasale yesterday said he was delighted that Suncorp had reversed its embargo.
“I followed it up and got it changed and it’s great news for Ipswich,” Cr Pisasale said.
“To Suncorp, thank you for reacting so quickly. They’ve done the right thing and I hope the other insurance companies do the same.”
The embargo outraged many people, and Queensland Times readers clogged our letters, email and website comments section with complaints.
They were stunned that the 4305 postcode includes suburbs such as Denmark Hill, which is well above even the 1974 flood level.
A Suncorp spokesman said yesterday the Ipswich post code embargo was lifted at the weekend.
“There is currently no embargo on new business in the Ipswich area,” the spokesman said.
“Embargoes are generally placed on taking new business at the onset of major weather events. Resources are then directed to assisting existing customers with their claims.
“Once the weather event has concluded the embargo is removed.
“This is in line with standard insurance industry operations and would have also occurred with other insurance companies operating in the area.”
Allianz Australia spokesman Nicholas Scofield said last week the only embargo the company had in place was in areas in the path of Cyclone Yasi.
Both NRMA and RACQ Insurance said they had no embargoes.