Well, our fate is now in the hands of the Taskforce, with the full report due out at the end of November 2015. There was a meeting this week between the Advisory Panel and the Taskforce to review our opinions of the public submissions, so we’ve all had our say. There have already been new products brought to the market, and Rob Whelan, CEO of the Insurance Council of Australia, said this week there are more in the pipeline, so the consumers are already benefiting. As I find out about them I will pass the information on but you do need to check your terms and conditions to find a policy which suits you. Whatever recommendations the Taskforce comes up with I believe (but can’t guarantee) they will include proper risk assessment. Who is currently quoting in Northern Australia? The following companies I know are quoting so you should be able to get more than one quote now (the islands may be more limited). Strata Insurance: • Suncorp have brought out a new product which can be bought direct from them only for valuation up to $5M only and up to 10 units • Brooklyn Underwriters have changed their $5M valuation limit to $15M, so they will now quote on properties valued up to $15M • SUU/CGU are still in the market and undertaking individual risk assessment of all their strata properties • Vero/Longitude (owned by Suncorp) must provide a quote (Suncorp Group say) • Mobius Underwriting are also quoting, sometimes • Strata valued at $15M+ can also get a quote for an ISR (Industry Special Risks) policy via a broker Home and Contents: • IAG (Insurance Australia Group) have brought out a very different basic product called InsureLite, available on line. This “no-frills” home building policy is being tested ONLY in Queensland • Suncorp is quoting, as are AAMI and APIA (owned by the Suncorp Group) • CommInsure (CBA), Westpac, OnePath (ANZ) are quoting • RACQ and NRMA (which is owned by IAG) are also quoting • Allianz is quoting • QBE and Youi might quote Contents and cars: • Suncorp and Good Shepherd Microfinance have come up with a new joint product called “Essentials by AAI”. This allows ‘mix and match’ cover for contents and cars - cover options for contents $10,000/$20,000, and up to two cars valued at $3,000 and $5,000. You must have a health care card, or be on Centrelink etc. so there are limitations