When Adam Bailey last sought insurance for his antiques shop in Lismore, nobody would offer cover except one firm that demanded $70,000 a year.
The shop with its 150 year-old Japanese kites and rare jewellery was “like a museum” but Bailey and his other neighbours balked at paying out such premiums. After this week’s flood topped previous flood heights by 2 metres, Bailey is facing half a million dollars of uninsured losses.
