Matt Keogh (Burt, Australian Labor Party, Minister for Veterans’ Affairs) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

Today I rise to introduce the Defence Service Homes Amendment (Insurance) Bill 2025(the bill).

This bill will formalise longstanding Commonwealth practice by providing express legislative authority for the Commonwealth to continue to provide general insurance or act as an authorised representative for a third-party insurer.

Since 1919, the Defence Service Homes Insurance Scheme has provided financial support by way of home building insurance to Australian Defence Force members and eligible veterans and their families under the Defence Service Homes Act 1918.

To complement the home building insurance product, since 1990, Defence Service Homes Insurance has acted as a representative of a third-party commercial insurer to offer Defence Service Homes Insurance 'branded' home, contents, motor vehicle, caravan and motorbike insurance policies.

This has generated commission income that contributes to the competitive pricing of Defence Service Homes Insurance home building policies—keeping costs down for Defence families.

This bill formalises the existing practice of the Commonwealth to enter into representative agreements with third-party insurers to provide home, contents and general insurance products to ADF members, eligible veterans and their families.

This bill will retrospectively validate past activities undertaken by the Defence Service Homes Insurance as an authorised representative of a third-party insurer and also authorise the scheme to continue to carry out such activities in relation to more than 32,000 current policyholders, including granting it the authority to renew policies.

The Albanese government is committed to supporting veterans and their families, and Defence Service Homes Insurance is just one of those supports currently available.

This complements other initiatives from the Albanese government, including improvements to study assistance to Australian Defence Force and Public Service personnel, increased support for Australian Defence Force families through enhanced remote locality leave travel, and expanded ADF family health benefits program.

Full details of the measures contained in this bill are set out in the explanatory memorandum. I urge members to support this legislation and move it through our parliament promptly.

I commend the bill to the House.

Debate adjourned.