John Mackenzie chats with Margaret Shaw, Consumer Insurance Advocate, for a positive update on the progress of the $10 billion reinsurance pool for Far North Queensland's cyclone-prone regions.
Jul 17, 2023, 02:58 AM
John Mackenzie chats with Margaret Shaw, Consumer Insurance Advocate, for a positive update on the progress of the $10 billion reinsurance pool for Far North Queensland's cyclone-prone regions.
With some big insurers, including SURE, Suncorp, QBE, and Alliance, having already joined the pool, consumers are now waiting for the remaining giants, such as IAG and RACQ to commit.
Margaret Shaw saw the news as overtly positive with positive flow-on effects, however, she vowed to fight to the very end if needed to ensure the reinsurance pool is effectively executed.
A previous caller from today's show, Linda Tuck from Property Ladder Real Estate, explained how her insurance bill has already decreased by over 39% for some properties, all thanks to the newly-formed pool.
With some big insurers, including SURE, Suncorp, QBE, and Alliance, having already joined the pool, consumers are now waiting for the remaining giants, such as IAG and RACQ to commit.
Margaret Shaw saw the news as overtly positive with positive flow-on effects, however, she vowed to fight to the very end if needed to ensure the reinsurance pool is effectively executed.
A previous caller from today's show, Linda Tuck from Property Ladder Real Estate, explained how her insurance bill has already decreased by over 39% for some properties, all thanks to the newly-formed pool.