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Comprehensive discussions were held with George Christensen MP, Member for Dawson, Warren Entsch MP, Member for Leichardt and Phillip Thompson OAM, MP, Member for Herbert. Also present were Michelle Landry MP, Member for Capricornia, and Senator Susan McDonald. Senator Matt Canavan, Minister for Resources and Northern Australia, also called in to the meeting, and joined in the discussion.
Insurance brokers Ron Bellert, representing the Council of Queensland Insurance Brokers, and Paul Glasby, representing the NIBA Queensland Divisional Committee, were able to give the Members of Parliament first-hand accounts of the current state of the insurance markets in northern Australia.
Courtesy of Christensen, the delegation also met with senior executives of the ACCC, who are continuing their inquiry into insurance issues in northern Australia.
NIBA CEO Dallas Booth said it was a tremendous opportunity to provide Members of Parliament and senior executives of the ACCC with first-hand knowledge and experience from insurance brokers who are working in the area every day trying to look after the needs of their clients. “We look forward to further engagement with the ACCC as the work continues on their inquiry.”
Consultation has now begun with the Tasmanian Government looking to reintroduce a Home Warranty Insurance scheme.
NIBA has provided a submission to the Senate Economics Legislation Committee’s hearing on the Treasury Laws Amendment (Cyclone and Flood Damage Reinsurance Pool) Bill 2022.
The National Insurance Brokers Association (NIBA) has provided a submission on the Treasury’s Quality of Advice Review Draft Terms of Reference.
The Federal Government this week introduced legislation to establish a reinsurance pool for cyclone and related flood damage in northern Australia.