Minister urges insurers to slash premiums

Community Recovery and Resilience Minister David Crisafulli is calling on insurance companies to come good on their word and reduce their home insurance premiums to reflect the improved level of flood protection in Roma and St George.

And he’s vowed to be watching.

Inspecting the new levees today, Minster Crisafulli said insurers had predicted falls in premiums of up to 80 percent in communities such as Roma when the levees were being proposed.

He is now working with Member for Warrego Howard Hobbs to get a handful of unidentified homeowners to compare their bills before and after the installation of the levee to hold the insurers to account.

“These communities have for too long endured the double whammy of frequent floods and sky-rocketing insurance costs,” Mr Crisafulli said.

“Through our partnerships with local councils, we promised to protect these towns from further heartache and we have delivered.

“It’s now up to the insurance industry to follow through with their promise to slash premiums by up to 80 percent, and we intend to hold them to account.

“I urge locals to seek a revised quote on their insurance and shop around to find the best deal.

“Those insurers who do the right thing and drop their premiums should be applauded; those who don’t should be avoided.

“I also call on more insurance companies to recognise the work that has been done to protect these towns from future floods and enter the market.”

Mr Crisafulli said more than $20 million had been spent in Roma and St George to protect as many homes as possible from flooding, with further works on the drawing board.

“There is no reason why a local whose home is now protected by a levee in either of these towns should be paying inflated premiums,” he said.

“While we will never flood-proof Queensland, these projects show we can come up with viable and responsible plans to protect communities that make sense and provide lasting benefit.”

Mr Crisafulli last week called for Expressions of Interest from the state’s 77 councils for nearly $47 million worth of projects to make communities more resilient.

[ENDS] 12 March 2014

Media Contact:          Monica Rostron 0409 126 332; Andrew Longmire 0418 216 627