Warren Entsch challenges ALP over reinsurance pool

Warren Entsch has staked his political reputation on the success of a scheme to bring down premiums – and he reacted angrily to Labor criticism that the government has not put up enough cash.

LEICHHARDT MP Warren Entsch has staked his political reputation on the success of the federal government reinsurance scheme – he is calling for Labor to put up a feasible alternative or end a white anting “fear campaign” against the pool.

Far Northern MPs Crag Crawford and Michael Healy have both rubbished the plans for the scheme – designed to make skyrocketing insurance premiums more affordable – by attacking a $2.4m budget allocation of a planned $10bn pool.

Warren Entsch has called on the ALP to stop ‘white anting’ the proposed federal reinsurance pool

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“The $2.4m allocated in this year’s budget was to establish consultation round tables in Cairns, Townsville, the Whitsundays and across Northern Australia to ensure we get this important policy right,” Mr Entsch said.

“It’s clear our D grade state Labor MPs don’t actually know what they’re talking about.

“Furthermore, the scheme doesn’t start until July 1 2022, so anyone with a half a brain or any knowledge of accounting, would understand the $10bn guarantee will be made available in the 22/23 financial year to actually coincide with the scheme’s commencement.”

Mr Entsch said if state MPs wanted to help ease the insurance burden of Far Northerners they would advocate for the abolition of state stamp duty on insurance renewals and changes to heavily over insured body corporate managed unit buildings.

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Originally published as Warren Entsch challenges ALP over reinsurance pool