Queensland Premier announces initiative to drive down insurance costs in North Queensland

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Premier Newman announced the Queensland Government and Federal Government will work together to directly tackle the cost of insurance in North Queensland. 

Premier Newman said ‘Our meeting built on the Newman Government’s 10-point action plan and we reached agreement on a number of actions to be implemented as quickly as possible.’  The agreed actions included a number of Australian Government Actuary studies, an insurance aggregator for the North Queensland market, allowing foreign insurers access to the North Queensland market and a review of the payment of insurance commissions to strata managers.

It is anticipated further information will be provided in the coming weeks and feedback will be sought from the industry and community. 

To read more, please click here to see the Queensland Government’s press release.

Topics:  Australia, Insurers, Premiums

Published In: General Business Updates, Insurance Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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