The Insurance Council of Australia
(ICA) has welcomed the reappointment of Kelly O’Dwyer as the minister responsible for the financial services sector.
Prime Minister Malcolm Turnbull has announced this week the appointment of O’Dwyer as minister for revenue and financial services, a new title that carries the same responsibilities as her previous assistant treasure role.
Rob Whelan, ICA CEO, said in a statement: “The Insurance Council of Australia
has worked closely and cooperatively with Minister O’Dwyer and her staff since her initial appointment last September, and I am pleased to see continuity of ministerial responsibility in the financial services portfolio. It is important to ensure progress can be made on key policy issues, including tax reform and insurance affordability.”
Whelan has also stated key areas in the industry that require government attention: “The industry believes the government should retain its focus on reducing the regulatory burden on business, avoid unnecessary intervention in properly functioning markets, and renew the tax reform process to help state governments abolish their punitive, inefficient taxes on insurance products.”
Insurance industry welcomes ASIC reforms
ICA welcomes Government reshuffle