Media Release - Liberals have no plan for North Queensland insurance

Once again the Morrison Government is all talk no action when it comes to fixing the crisis in the northern Australia insurance market.

The Morrison government’s lack of a plan to tackle the high cost of insurance premiums in North Queensland has again been highlighted by its failure to address urgent recommendations by the competition regulator.

Since July 2019 the ACCC has been calling on the Morrison government to act on the 28 recommendations to help residents and small businesses in northern Australia who are unable to secure reasonably priced insurance for their homes and businesses.

To date the Government has ignored their recommendations and the pleas of locals for action.

Assistant Treasurer Michael Sukkar has promised to introduce legislation into parliament by the end of the year to address unfair contract terms in insurance contracts.

But the government still refuses to act on the suite of urgent reforms outlined by the Australian Competition and Consumer Commission.

The Assistant Treasurer has only now decided to meet with North Queensland locals and “work out some possible solutions”.

The Coalition’s inaction has led to unrest among its own backbenchers who are sick of telling their community to keep waiting for action.

The rising cost of insurance premiums in North Queensland won’t be solved by the Morrison government continually blaming their State counterparts while failing to act.

The Government must urgently reply to the ACCC recommendations and help the people of northern Australia.

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