Senate debates

Thursday, 21 November 2024

Questions without Notice

Banking and Financial Services

2:48 pm

Photo of Katy GallagherKaty Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

Certainly, I’ve already alluded to the fact of global distribution of risk by reinsurers. You talk about them. The global reinsurers affect the price of insurance here, as they do in other countries around the world. But I do not accept that we are not taking any action. We have established this taskforce to look at what further steps we can take to build on existing work, including in areas like risk mitigation and land use planning, as well as other steps to deal with some of these affordability challenges. This is a challenge not just in Queensland but around the country.

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