Latest news with #TasInsure
The Advertiser
3 days ago
- Business
- The Advertiser
'Cheaper, fairer, ours': state insurance firm unveiled
Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections.
Perth Now
3 days ago
- Business
- Perth Now
'Cheaper, fairer, ours': state insurance firm unveiled
Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections.
West Australian
3 days ago
- Business
- West Australian
'Cheaper, fairer, ours': state insurance firm unveiled
Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections.
ABC News
3 days ago
- Business
- ABC News
Tasmanian Liberals promise new state-owned insurance company, Tasinsure
The Tasmanian Liberals have announced plans to set up a state-owned insurance company, claiming it would save Tasmanian families hundreds of dollars a year in premiums. Wearing a branded TasInsure jacket, Premier Jeremy Rockliff has told reporters that the Motor Accidents Insurance Board (MAIB) will be expanded to create TasInsure if the Liberals win government at this month's state election. The proposed state-owned company would offer home, contents, small business and regional insurance, as well as insurance for community groups and events. Mr Rockliff described it as the party's most significant announcement of the campaign. "[Insurance premiums] increased by some 35 per cent in the last two years alone. That's an extraordinary increase that's impacting on many Tasmanians," he said. "We need cheaper, fairer and our own insurance company here in Tasmania. "The market nationally has failed Tasmanians and that is evident when you consider that the insurance industry made some $6 billion of profit last year alone." The Liberal Party estimates Tasmanian households will save $250 a year and small businesses will save 20 per cent off their premiums.
