The effects of extreme weather events of the last 12 months continue to be felt, even by those who were not directly in the destruction zone.

Insurance companies have ensured the pain lingers longer as premiums sky rocket to the point where cover is unattainable for many.

Public outrage has forced government action with Federal Assistant Treasurer, Bill Shorten, announcing that the House of Representatives Standing Committee on Social Policy and Legal Affairs inquiry into the insurance industry's response to these major weather events, will now cover residential strata insurance.

“As I’ve looked more closely at insurance issues in Queensland, I’ve become aware the affordability of residential strata insurance has become an increasingly serious issue now that many people are renewing their strata title insurance policies.”

“In particular I’ve been concerned about the news coming out of cities and towns like Cairns, Townsville, Port Douglas and others in the region, where anecdotal evidence suggests residential strata insurance is becoming an increasing issue.”

Residential strata title insurance will now form part of the terms of reference for the inquiry.

It is believed that public hearings are to be undertaken in Northern Queensland during the parliamentary recess in January, and the Committee is inviting people and organisations to make submissions addressing the terms of reference by 16 January.

To find out more about making a submission visit the House of Representatives website.