Bob Katter (Kennedy, Independent) Share this | Hansard source

My question is to the Minister for Revenue and Financial Services. In May 2014, I raised the issue of skyrocketing North Queensland insurance premiums. ACCC figures show northern premiums rising 80 per cent in five years. With 400 per cent increases, North Queensland is the lead contributor. With pre-Cyclone-Tracy old-building-code buildings all gone, this discrimination cannot now be justified. In 2006, Cyclone Larry damages were $1.5 billion; in 2011, Cyclone Yasi, only $800 million. When will the Prime Minister establish an authority to underwrite exceptional circumstances, providing the platform for yarding profiteering insurers?

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