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15    Insurance in Northern Australia

Senator Green, pursuant to notice of motion not objected to as a formal motion, moved general business notice of motion no. 153—That the Senate—

               (a)       notes that:

                                     (i)       the Australian Competition and Consumer Commission’s (ACCC) inquiry into northern Australian insurance found insurance premiums rose by 130% in northern Australia over the past decade, compared to just over 50% in the rest of the country,

                                    (ii)       82% of those surveyed by the ACCC experienced some level of underinsurance,

                                  (iii)       the ACCC has published two reports that made 28 recommendations aimed at making insurance in north Queensland fairer, and more transparent,

                                  (iv)       the ACCC has urged the Federal Government to act quickly to respond to the ACCC recommendations to improve northern Australian insurance markets,

                                   (v)       in 2015, the Member for Leichhardt described the insurance situation as being in ‘crisis’, and this week the Member for Dawson acknowledged that we are ‘at crisis point right now’, and

                                  (vi)       the Federal Government promised to fix this crisis, but they have refused to take any action; and

               (b)       calls on the Federal Government to act quickly to respond to the ACCC’s recommendations.

Statement by leave : The Assistant Minister for Forestry and Fisheries (Senator Duniam), by leave, made a statement relating to the motion.

Question put and passed.