The ACCC's Northern Australia Insurance Inquiry came to Mackay last night, lead by ACCC deputy chair Delia Rickard
I went to the Quest last night and it was heartbreaking to hear some of the stories told by residents and business owners about what's happened to their insurance premiums over the past few years - but for the ACCC, they've heard hundreds of similar stories as the went to Townsville, Cairns, Darwin, Alice Springs, Broome, Karratha, Rockhampton and finally Mackay.
I interviewed Delia Rickard after the forum - just press the audio button, but I still have concerns as to whether the ACCC has the power to force multi-national overseas insurance companies to do anything other than increase their own profits.
The ACCC must have their first interim report to the Treasurer by November 30 2018, another by November 30 2019 - and the final report by 30 November 2020...........that's FAR too long - three years is a LONG time - three cyclone seasons long
If you'd like to make submission to the Inquiry, you can still do so before the end of December by going to ACCC.gov.au