Real Estate
13 November, 2020
Lnp Fails To Fix Insurance Crisis In Time For Cyclone Season
ALP Senator, Nita Green claims the Morrison Government has failed to fix North Queensland’s long-standing insurance crisis as another natural disaster season looms for the state.
Property owners are literally begging the Federal Government to deliver promised intervention to drive down insurance premiums, but the LNP has failed to detail a solution.
The ACCC’s Northern Australia insurance inquiry has already revealed some insurers are refusing to cover some properties in Northern Australia while premiums for strata properties are on average three times higher in the North when compared to the rest of Australia.
The final report will be handed down on November 30 leaving Scott Morrison and Warren Entsch with no excuses for further inaction.
During Senate Estimates, Bureau of Meteorology Director Andrew Johnson said La Nina weather conditions presented an elevated risk of flooding in northern parts of Queensland.
Cairns-based Labor Senator Nita Green said the Morrison Government was leaving North Queenslanders behind due to their failure to act on the insurance crisis.
“Insurance is increasingly becoming unattainable and unaffordable for North Queenslanders and this Liberal National Government has done nothing for seven years,” Senator Green said.
“Warren Entsch has repeatedly campaigned to fix the insurance crisis in North Queensland but when it’s time to deliver he never follows up.
“Regional Queenslanders are struggling through a deep recession and now the threat of a severe weather event is hanging over our heads with no relief in sight.”
