Suncorp repeats warning
ironically plastered with a sticker saying “Kiss my Yasi”, in reference to the cyclone that smashed the Queensland coast in 2011.
Mr Harris said the whole town of Airlie Beach had suffered, but was slowly coming back to life.
“Everyone has taken a hit,” he said. SUNCORP has reignited warnings against setting up a government-backed cyclone insurer for North Queensland.
The Federal Government in March last year seemed to have killed off the notion of establishing such an insurer, noting a taskforce report had highlighted “significant financial risk” associated with such an insurance outfit.
But the government never delivered on a final report by June last year, as intended. Financial Services Minister Kelly O’Dwyer's office in March this year told The Courier-Mail the government was “still considering the findings of the taskforce”.
Insurance industry sources have been concerned the Turnbull government feared a backlash from some North Queensland Coalition parliamentarians for opposing the scheme, and now North Queensland MP Warren Entsch has been quoted as saying he is confident of Prime Minister Malcolm Turnbull supporting a mutual insurer.
Shareholder-owned Suncorp last Monday argued a mutual insurer backed by government was not in the national interest. Mitigation and building stronger homes were better options, Suncorp argued.
The taskforce report last year was spurred amid high insurance costs for households in North Queensland.
WRECKED: Stuart Harris at Shute Harbour with his former home, a boat called Munn.