The Australian Competition and Consumer Commission (ACCC) will host a series of public forums across northern Australia over the next few weeks, the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer announced today.
"This is the opportunity for anyone in northern Australia who has faced rising insurance premiums to raise their concerns directly with the ACCC," Minister O'Dwyer said.
The Turnbull Government provided $7.9 million to the ACCC in the 2017 Budget to conduct a wide-ranging inquiry into the supply of residential building, contents and strata insurance in northern Australia.
"The Government will closely monitor the inquiry and findings of the ACCC inquiry. If there is evidence to indicate that that the market is not competitive, or that premiums are not properly reflecting the risks facing residents in northern Australia, the Government will consider the options available to it to improve insurance affordability," Minister O'Dwyer said.
These are complex issues and the Government remains committed to working with all stakeholders to develop solutions that will lead to sustainable reductions in premium levels, promote a competitive insurance market and make a recognisable difference for consumers in northern Australia.
All residents of northern Australia and stakeholders are encouraged to participate in this inquiry. Details of the public forums are below. If you cannot attend these forums, you can have your say by responding to the issues paper on the ACCC website.
Submissions are due by 5pm, 21 December 2017 and can be emailed to insurance@accc.gov.au.
Details of the public forums:
Location
Date (2017)
Venue and time
Address
Townsville QLD
Wednesday 15 November
Hotel Grand Chancellor, 5:30pm
334 Flinders St, Townsville City
Cairns QLD
Thursday 16 November
Rydges Plaza Cairns, 5:30pm
50 Grafton St, Cairns City
Darwin NT
Wednesday 22 November
Oaks Elan Darwin, 5:30pm
31 Woods St, Darwin City
Alice Springs NT
Thursday 23 November
Aurora Alice Springs, 5:30pm
11 Leichhardt Terrace, Alice Springs
Broome WA
Wednesday 29 November
Oaks Broome, 5:30pm
99 Robinson St, Broome
Karratha WA
Thursday 30 November
Ibis Styles Karratha, 5:30pm
35-45 Searipple Rd, Karratha
Rockhampton QLD
Tuesday 5 December
Travel Lodge Hotel, 5:30pm
86 Victoria Parade, Rockhampton City
Mackay QLD
Wednesday 6 December
Quest Mackay on MacAlister, 5:30pm
38 MacAlister St, Mackay