Media announcement: The Coalition has recognised that the increasing cost of property insurance is a serious problem for people in Northern Queensland. Earlier this week a Coalition Policy Committee established to develop policy options to help ensure property insurance is both more widely available and more affordable across Northern Queensland met to explore possible ways forward. "The objective of the Committee is to develop sensible and effective policy options in the lead up to the next election to help address current issues around the availability and affordability of property insurance - in particular in North Queensland," Shadow Financial Services Minister Mathias Cormann said. Members of the Committee will be collating a comprehensive list of possible policy options by 1 February 2013 before finalising a set of recommendations for consideration by the Shadow Cabinet and the Joint Coalition Party Room prior to the next election.