Nita Green (Queensland, Australian Labor Party) Share this | Link to this | Hansard source

When a natural disaster occurs, whether it is a bushfire, a flood, a cyclone or hail, Australians will normally ask themselves two important questions: 'Is everyone safe?' and 'Am I insured?' This summer, many Australians are asking themselves those questions. When it comes to insurance, for many months to come, and possibly years, they will work their way through claims, recovery and, hopefully, rebuilding. We know that it takes time.

Last week marked one year since North Queenslanders were asking themselves those questions when Townsville experienced a 'once in 500 years' flood event. The flood was devastating, leaving hundreds of residents displaced and causing significant damage. More than 30,700 insurance claims were lodged for damage to property caused by those floods. Tonight, I take the opportunity to acknowledge that event and the aftermath—the North Queenslanders still rebuilding and the five families who lost loved ones during the tragic event. This would be a very difficult time for them.

Because Queensland is prone to natural disasters, we get it all—fires, floods, cyclones. The cost of insurance is always a concern. Unfortunately this isn't the first time I've been in here speaking on the cost of insurance, and it probably won't be the last. Insurance premiums in North Queensland are incredibly expensive and have been rising every year during the past six years under this government. I understand that insurance is a complex system involving financial regulations and consumer practices. But do you know what? At the end of the day, insurance is just a bill that has to be paid; and more North Queenslanders are finding themselves unable to pay that bill.

For the last six years, members of this government—the member for Leichardt, Warren Entsch, and the member for Dawson, George Christensen—have promised North Queenslanders that they will fix our insurance crisis. They have held meetings and forums and have put up election signs. They've even created petitions to petition their own government. But they're in their third term of government now, and insurance prices keep rising. And not only have they not fixed the crisis; insurance prices are going up, and they have no plan to fix them.

The RSL in Townsville can't afford insurance. The Anglican Church, whose buildings provide relief during disasters, can't afford insurance. The ACCC has been investigating the northern Australia insurance market for two years and has published four reports. The ACCC found that insurance premiums rose by 130 per cent in northern Australia over the past decade, compared to just over 50 per cent for the rest of the country. When insurance is too expensive, people make the difficult choice of not insuring. It also makes it more expensive to buy properties and for businesses to invest in our regions.

What is clear from the findings of the most recent report from the ACCC, which conducted a case study after the Townsville floods, is that the people of Townsville urgently need affordable insurance. After the many speeches that I have given in this place in my short term as a senator, and from the many petitions we have seen from members of the government, it is clear that the government is not going to deliver a plan to fix this crisis. There is a term that is often used in North Queensland that I think is incredibly appropriate for this issue—I have heard somebody say that the member for Leichardt is just 'flapping his gums' when he talks about fixing the insurance price crisis. After six years of this government, people in North Queensland know that they can't believe the promises that were made by the member for Leichhardt or the member for Dawson. They have been flapping their gums for six years and insurance prices keep going up.

Senate adjourned at 19:55