The Federal Government will announce today several measures it plans to implement to reduce insurance costs in North Queensland, including luring overseas insurance companies into the market, creating a comparison website for consumers, establishing an engineering assessment program for strata-titled properties and making insurers use more accurate data for individual properties when writing policies. Assistant Treasurer Arthur Sinodinos said overseas insurance companies, particularly those based in Asia, may be better at judging and pricing risk for properties in tropical Australia. "For example, if we can find foreign insurers with particular experience in these type of situations (in tropical areas), that have built up an expertise in this sector, we need to assess to what extent that experience is applicable here," he said. "That experience might give them a particular edge in being able to offer insurance of particular types." Part of an article by ANTHONY TEMPLETON (Bulletin)