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Insurance Business | 30 Oct 2014, 09:10 AM Agree 0
A North Queensland broker has organised an online petition in an attempt to make the government re-think its plans for North Queensland.
  • Mike Sullivan | 30 Oct 2014, 10:27 AM Agree 0
    As an industry lets get WARREN ENTSCH to a meeting and educate he and the Finance Minister about the Insurance industry.
    It is time we challenged the Warren Entsch rhetoric.
  • Solutions Required | 30 Oct 2014, 01:45 PM Agree 0
    All for solutions but the main insurers have been dragging for 12 months now.
    Ensuring insurance is vitally important for community and business and anything else, via politicians and media, drags the industry down.
    Affordability is key and I think insurance should not attract any duty or tax.
    I think insurers should consider simplified products that cover just a few risks.
    I do not think another levy on those who hold insurance is fair as why should those who do mitigate their risk also fund those who don't.
    Like the FSL it should be applied to the property owner possibly refunded if they can prove coverage.
    With regards the UFI's my understanding was that their products would or could only be offered via intermediaries thus driving regulation.
    One thing is for sure, the Govt's message has stirred the pot and maybe now we will see real solutions and that's maybe what the Govt was trying to achieve after all.
  • Robert Cooper | 31 Oct 2014, 11:24 AM Agree 0
    The trouble with politicians is that they only want to listen to advice that suits them. They have not consulted any Risk and Insurance Professionals in this region for the practicalities of their plans. They have not consulted legal specialists in this area about the potential risks to consumers. They have not even sought out the advice from the Insurance Council of Australia.
    Personally I see it as a good idea to invest more in research and development with what is needed for property and lives to protect themselves more effectively in the event of such catastrophes, but this government has also slashed the CSIRO's budget too.
    What we really need is smarter and more intelligent politicians in government that show effective leadership.
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