GEORGE CHRISTENSEN

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Have your say on high cost of insurance

Lynnis Bonanno

OCTOBER 26, 2017: I AM urging the people of North and Central Queensland, who know only too well that their insurance costs are astronomical and rising, to make their voices heard on the issue by taking part in an ACCC inquiry into insurance in the north.At the instigation of the Liberal National Government, the ACCC has instigated an inquiry into residential, building, contents and strata insurance in Northern Australia.The big issues are affordability and availability, and I encourage everyone who has had an issue with rising insurance premiums and the lack of choice in the market, and let’s face it that’s most of us, to take part in the ACCC’s Northern Australia Insurance Inquiry.There are a number of ways you can do this. Individuals might find it easiest to fill out the online questionnaire, but you can also make a submission or attend public forums which will be held in Mackay, Townsville and Rockhampton as well as a number of other northern cities.Here are the details for participation:

  • Fill out the online questionnaire at the ACCC Consultation Hub: https://consultation.accc.gov.au/
  • Make a submission and lodge it by December 21, 2017 via email at insurance@accc.gov.au or post to ACCC Northern Australia Insurance Inquiry, GPO Box 520, Melbourne, VIC 3001
  • Attend the public forums to be held at:Townsville – 5.30pm on Wednesday, November 15 at Hotel Grand ChancellorMackay – 5.30pm on Wednesday, December 6 at Quest MackayRockhampton – 5.30pm on Tuesday, December 5 at Travelodge Hotel

The ACCC aims to identify the barriers that prevent those in the north from accessing affordable, appropriate and comprehensive insurance. Let’s help them do so.The ACCC will use their compulsory information gathering powers to access information directly from insurers, which is something other inquiries have not been able to do. The inquiry also includes monitoring of the industry for a period of three years.Submissions are due on December 21 this year and the ACCC must submit reports to the Treasurer by November 30, 2018 and November 30, 2019.