Media Release

TheHE evil work of the Federal Government encouraging states to flog every asset off to their corporate cronies is working its witch doctor magic with the Northern Territory Government considering selling the Territory Insurance Office (TIO), the only state owned insurance company left in Australia said KAP Leader and Federal Member for Kennedy Bob Katter.

The Northern Territory Government has once before attempted to sell TIO but the move was not supported by the board due to concerns over the availability of cyclone and flood insurance.

“Like people in North Queensland the people of the Northern Territory will be left unable to afford to insure their homes or businesses if they sell off TIO,” Mr Katter said.

“It is possible to get insurance, but it is impossibly and prohibitively expensive in North Queensland.

“A state insurance agency was set up under exactly these circumstances by the Theodore Government and whilst any government with any intelligence would have a state government office, the least they could provide is a little protection.

“At the end of the day the protection is for government itself because many north Queensland homes and businesses have no cover, because people can’t afford it - it would be a very brave and stupid government indeed to refuse to give assistance in the case of a natural disaster.

“The other government may have been dimwits but they weren’t grovelling on the floor to their corporate cronies and government financiers,” Mr Katter said.

Last week Mr Katter raised serious concerns with a draft report on disaster funding selling ‘double-disaster’ for north Queenslanders’ with the Government proposing to significantly reduce disaster relief funding and community members unable to protect themselves with escalating insurance premiums.

If these recommendations were implemented many communities in the Kennedy Electorate would face significant difficulties financially and economically to recover from cyclones or other natural disasters, and additionally with the unaffordable insurance premiums unable to protect themselves.

“What would be ideal is if events occur that kick north Queenslanders’ above the insurance average for Australia then that event should be covered by the government,” said Mr Katter.

Earlier last week Mr Katter called two public meetings in Edmonton and Innisfail to address the issue of insurance premiums as north Queensland residents struggle under the burden of skyrocketing premiums.