Pyne to re­vive sta­te­owned in­sur­ance

The Weekend Post - - News -

AUS­TRALIA’S last govern­ment-owned in­sur­ance of­fice was sold by the North­ern Ter­ri­tory Govern­ment in 2014 for $424 mil­lion.

Cairns MP Rob Pyne (right) wants to re­vive the con­cept, promis­ing to ta­ble a bill he says will drive down the cost of in­sur­ance for Far North res­i­dents.

“The pri­vati­sa­tion of the State Govern­ment In­sur­ance Of­fice in the 1990s has re­sulted in con­sumers pay­ing un­af­ford­able high in­sur­ance pre­mi­ums and was a bad de­ci­sion for Queens­land,” the in­de­pen­dent MP said.

“The ma­jor par­ties have a clear con­flict of in­ter­est and can­not be trusted due to their links with pri­vate in­sur­ance com­pa­nies.”

The SGIO was in­sti­tuted by the Queens­land Govern­ment in 1917 as a mo­nop­oly provider of work­ers’ com­pen­sa­tion ser­vices, be­fore be­com­ing Sun­corp.

“I have had peo­ple in my of­fice in tears about the cost of in­sur­ance,” Mr Pyne said. “Peo­ple in body cor­po­rate units feel par­tic­u­larly dis­crim­i­nated against. I will be cam­paign­ing on this and should I be re-elected I will have a man­date to act.”

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