NQ reinsurance pool announcement a welcome game-changer for councils and communities

Published: 4th May 2021

The peak body representing Queensland 77 councils has welcomed the Federal Government’s announcement of a reinsurance pool to help reduce insurance costs for North Queensland residents and businesses.

Local Government Association of Queensland (LGAQ) President and Sunshine Coast Council Mayor Mark Jamieson thanked Prime Minister Scott Morrison and his colleagues for listening to North Queensland Mayors and the LGAQ on this important initiative.

“The LGAQ and our member Mayors have been determined in the campaign for action to bring down the prohibitive cost of insurance for North Queensland residents,” Mayor Jamieson said.

“Addressing this market failure through a reinsurance pool will mean better access to crucial home and business insurance cover for the more than 61,000 North Queenslanders who up until now have had to go without because the cost was simply too high."

The need for a reinsurance pool was a key element of the LGAQ’s Federal Budget submission, in support of North Queensland Mayors including Townsville Mayor Jenny Hill and Whitsunday Mayor Andrew Willcox, who have been unwavering in their bid to secure Commonwealth intervention on behalf of their communities.

Mayor Hill appeared before the Senate Select Committee on the effectiveness of the Australian Government’s Northern Australia agenda in March to further highlight the plight of North Queensland residents.

Mayor Jamieson said the announcement was a demonstration of the power of council advocacy on behalf of local communities.

He thanked the Coalition MPs and Senators who have also been advocating for the reinsurance pool alongside Mayors and the LGAQ, including Minister for Agriculture, Drought and Emergency Management, David Littleproud, Assistant Treasurer and Minister for Housing Michael Sukkar, Minister for Resources, Water and Northern Australia Keith Pitt as well as backbenchers George Christensen, Warren Entsch, Matt Canavan, Susan McDonald and Phillip Thompson.

For more information, please contact:
Sarah Vogler, Media Executive
Phone: 0438 447 370
Local Government Association of Queensland