Hon. Kate Doust questions the Minister for Commerce regarding a $21 million increase in funding for home indemnity insurance claims. The Minister explains it's due to a transitional arrangement where the state bears the full insurance risk.

AnsweredQoN 48Legislative Council
Asked
20 February 2014
Portfolio
Commerce

QuestionView source ↗

HOME
INDEMNITY INSURANCE — CLAIMS
48. Hon KATE DOUST to the
Minister for Commerce:
I refer to page 125 of the Government Mid-year Financial Projections Statement and note that
an additional $21 million has been allocated ''to meet claims''
for home indemnity insurance.
(1) What extraordinary event or events have occurred that
require this additional funding?
(2) If no
event has occurred, why is this additional funding required on top of what was
allocated in the budget?

AnswerView source ↗

I thank the honourable member for some notice of the
question.
(1)–(2)
This amount reflects the transitional arrangement that the state has entered
into with the current providers of home indemnity insurance under which the
state bears the full insurance risk.

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