The House of Representatives Standing Committee on Social Policy and Legal Affairs inquiry into claims processing (the Inquiry) will consider issues around residential strata insurance, particularly in Northern Australia, after the Gillard Government today released new Terms of Reference.
Assistant Treasurer Bill Shorten said "As I've looked more closely at insurance issues in Queensland, I've become aware the affordability of residential strata insurance has become an increasingly serious issue now that many people are renewing their strata title insurance policies."
"In particular I've been concerned about the news coming out of cities and towns like Cairns, Townsville, Port Douglas and others in the region, where anecdotal evidence suggests residential strata insurance is becoming an increasing issue."
To read the rest of this media release please visit my Treasury website.
Inquiry into residential strata title insurance
23 November 2011