Inquiry for high insurance premium
AFTER months of letter writing and lobbying politicians, executives of the Queensland Insurance Division (QUID) of Whitsunday Ratepayers Association (WRA), have reached a breakthrough in their fight to lower the region's rapidly rising body corporate insurance costs.
Lester Riley, Dave Tindall and Margaret Shaw (QUID) have welcomed the news of cross-party support for a parliamentary inquiry into issues surrounding residential strata insurance. The inquiry was announced on Tuesday by the offices of Jan McLucas (Senator for Queensland), Warren Entsch (Member for Leichhardt), Bill Shorten (Assistant Treasurer) and MP Graham Perrett (Committee Chair).
Ms Shaw said she had sent out more than 500 emails in the past five weeks to try to get the message out.
"When I heard the news I didn't know whether to laugh or cry. This is more than a step in the right direction.
"Finally someone is listening. Hopefully this is the start to the end of this story," she said.
Mr Riley said QUID's executives were hoping to have an input to the inquiry's terms of reference.
"We've already put forward 14 recommendations and we hope that some of them will be adopted," he said.
Federal member for Dawson George Christensen, who is hopeful of a place on the Inquiry's committee, said the issues at stake had transcended politics.
"If everything goes to plan and I do end up on the committee I'll be pushing firstly, that the insurance companies are held accountable for what they're doing and secondly, that some hard recommendations come out of this inquiry to basically help the people who are stuck in this situation. It's a trap and we need government to act very quickly on this," he said.
Unit owners, body corporate managers and real estate agents are encouraged to make submissions to the Inquiry.
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The Committee is expected to report to government during 2012, with a hearing possible in Airlie Beach.