To address ‘increasingly unaffordable’ home insurance premiums in Queensland, an independent member for Cairns has called for the establishment of a state-owned insurance office.
Rob Pyne said that with the privatisation of the State Government Insurance Office (
SGIO) in 1997, workers and consumers were made to pay unaffordable insurance premiums.
Pyne said that excessive insurance costs are a major election issue in the Far North, and, should he be elected, he will table legislation for the establishment of a State Insurance Office for Queensland, Green
Left Weekly reported.
Speaking about the heavy burden of high premiums on both residents and businesses, Pyne said: “I have had people in my office in tears about the cost of insurance.”
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According to Cairns insurance broker Roger Ward, who claimed that some residents have been hit with as much as 800% in premium rises, the Liberal National Party and Labor have accepted huge political donations from the insurance industry. A
Cairns Post report cited that insurance companies have made more than $600,000 in political donations.
“This is another big issue that begs the question — are the big parties working for the people or the corporations who pay them?” he said.
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North Queenslanders warned of rising tide in insurance premiums
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