Insurers seek changes to NSW funding

Original article by James Fernyhough
The Australian Financial Review – Page: 12 : 2-Jan-20

The Insurance Council of Australia has called for changes to the way that emergency services are funded in New South Wales. ICA spokesman Campbell Fuller claims the ’emergency services levy’, which is imposed on insurance companies, leads to underinsurance and is unfair on policyholders. Victoria had a similar levy, but scrapped it after the 2009 Black Saturday bushfires, replacing it with a broader property tax. NSW passed legislation in 2016 to enact a similar tax, but deferred its implementation not long before it was due to take effect in 2017. Fuller says that decision was "regrettable".

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED

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