The general insurance industry has welcomed today’s announcement by Prime Minister Julia Gillard, Financial Services Minister Bill Shorten and Attorney General Mark Dreyfus of $100 million in funding over two years for flood mitigation projects. The CEO of the Insurance Council of Australia (ICA), Mr Rob Whelan, said the commitment was a significant financial step towards protecting the viability and sustainability of many flood-prone communities. My comment: THE PREMIUM INCREASES OF 200-800% EXPERIENCED IN NORTH QLD ARE NOT PROPERTIES WHICH FLOODED!!!! How are you intending to mitigate against cyclones and protect those buildings with no damage from unreasonable premium increases? " The ICA welcomed a further study to be undertaken by the Australian Government Actuary on strata insurance pricing across Australia". Let us hope this time that the Actuary actually sets foot in north Qld and looks at actual examples, rather than take the word of the major insurance companies.