Premium increases of several hundred per cent over the past few years have been a feature of residential strata title insurance in North Queensland (NQ).
On 28 June 2012 the Government asked the Australian Government Actuary to investigate the causes of the premium increases and to report by 30 September 2012. This was in response to a report by the Standing Committee on Social Policy and Legal Affairs presented in March 20121.
This report sets out the results of the investigation.
1 The Committee's report is titled “In the Wake of Disasters Volume Two: The affordability of residential strata title insurance”