'Cheaper, fairer, ours': state insurance firm unveiled
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.
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