The Local Government Association of Queensland (LGAQ) is urging the Federal Government to set up a national reinsurance pool before the next disaster season to help cut the cost of soaring premiums in the state.

The peak body, which represents 77 councils, says the measure is needed to keep insurance affordable and prevent Queensland residents from carrying an “unfair burden”.

The LGAQ says the recent Australian Competition and Consumer Commission (ACCC) report shows premiums have risen 178% in northern Australia in the last decade, compared to 52% in the rest of the country.

More than 62,000 properties in North Queensland are currently uninsured, with more than 95% of those uninsured property owners citing cost as a reason!

LGAQ President and Sunshine Coast Council Mayor Mark Jamieson says, “This is just simply unacceptable in a state as highly vulnerable to natural disasters as Queensland.

“Our member councils want a reinsurance pool established to help reduce those costs so their communities are not unfairly burdened, and we support their call.

To read this rest of this article click here

Clear Insurance are true client advocates

At Clear Insurance we understand how important and detrimental having insurance is. We also know that having insurance can be financial crippling for small businesses. Clear Insurance wants all small businesses to have equal opportunity so therefore we don’t take commission – putting savings back into the pockets of small businesses. Another example of how we are passionate about helping our clients and their businesses.

For more information on how to protect your assets against natural disasters contact our team today.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Clear Insurance Pty Ltd. ABN 41 601 916 689. AFSL No. 548953.