❓ Question regarding government action on high residential accommodation insurance costs in the Pilbara and North West, specifically addressing recommendations from a federal report, stamp duties, risk assessment, competition, and strata title laws.
AnsweredQoN 7751Legislative Assembly
QuestionView source ↗
I refer to the need for the Government to take action on an important issue that is adversely impacting on the cost of residential accommodation in the Pilbara and the North West more generally, and I ask:
(a) what steps will the State Government take to immediately adopt the relevant recommendations that have been included in the Federal Parliamentary Committee report in reference to residential accommodation insurance issues following natural disasters;
(b) will the State Government initiate a moratorium on stamp duties paid on strata insurance premiums north of the Tropic of Capricorn for the 2012–13 financial year, and if not, why not;
(c) with particular reference to strata title insurance in the Pilbara and the absence of real competition amongst housing insurance providers for the Pilbara, will the State Government:
(i) investigate the risk assessment methodologies used by insurance companies to price risk for strata insurance coverage;
(ii) investigate the reasons for the lack of competition in the strata title insurance industry in the Pilbara and the North West and take appropriate action as required;
(iii) investigate any improper or anticompetitive behaviour taking place in the negotiation of strata insurance via managers and brokers, and take appropriate action if required;
(iv) improve resources available to consumers to better equip them in the management of strata title affairs; and
(v) conduct a comprehensive review of strata title laws and regulations to increase flexibility in the choice of insurance arrangements for consumers and increase transparency in the disclosure of commissions and fees, and if not, why not?
(a) what steps will the State Government take to immediately adopt the relevant recommendations that have been included in the Federal Parliamentary Committee report in reference to residential accommodation insurance issues following natural disasters;
(b) will the State Government initiate a moratorium on stamp duties paid on strata insurance premiums north of the Tropic of Capricorn for the 2012–13 financial year, and if not, why not;
(c) with particular reference to strata title insurance in the Pilbara and the absence of real competition amongst housing insurance providers for the Pilbara, will the State Government:
(i) investigate the risk assessment methodologies used by insurance companies to price risk for strata insurance coverage;
(ii) investigate the reasons for the lack of competition in the strata title insurance industry in the Pilbara and the North West and take appropriate action as required;
(iii) investigate any improper or anticompetitive behaviour taking place in the negotiation of strata insurance via managers and brokers, and take appropriate action if required;
(iv) improve resources available to consumers to better equip them in the management of strata title affairs; and
(v) conduct a comprehensive review of strata title laws and regulations to increase flexibility in the choice of insurance arrangements for consumers and increase transparency in the disclosure of commissions and fees, and if not, why not?
AnswerView source ↗
Answered
1 May 2012
Response time
33 days
(a)-(c)(v)
The Member is advised that this question should be addressed to Hon. Brendon Grylls MLA, Minister for Regional Development; Lands
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
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The Member is advised that this question should be addressed to Hon. Brendon Grylls MLA, Minister for Regional Development; Lands
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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