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Insurance Business | 02 Mar 2015, 09:04 AM Agree 0
In a speech to the insurance industry, the assistant treasurer has backed government plans in North Queensland but believes more can be done to impact affordability.
  • Johnny | 02 Mar 2015, 09:49 AM Agree 0
    This seems a more considered response from the government, than the previous shots from the hip. I'm not sure however, what Mr Frydenberg has in mind with his flexible solutions.

    Why is there no mention of the insurers who cherry pick and have a complete embargo on the region. This is a more detrimental position to the region but receives no criticism.
  • Robert Cooper | 02 Mar 2015, 11:31 AM Agree 0
    The Queensland Government could remove Stamp Duty on all Domestic Property Insurance which would save 9.9% straight away on the cost of insurance for people in this region.
    We were promised that stamp duty would go when the GST came in but it never happened. Stamp Duty on any Insurance policy is a disincentive to obtaining adequate cover due to the added costs.
  • Scott | 02 Mar 2015, 02:42 PM Agree 0
    I think it might seem more considerate as it is more vague - they are just aware "something" needs to be done.

    I think a large help might be in building codes - much like how flood prone area need flood defences (levees), cyclone prone areas probably need cyclone defences (stronger walls?).

    If Emerald & Roma have shown us anything though, it is that councils rarely want to take responsibility for approving homes in dangerous locations.
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