Steven Miles, David Crisafulli rule out state-owned insurer

Premier Steven Miles has revealed he considered establishing a state-run insurer to go with his plans for government service stations, GP clinics and another energy retailer.

Lifesavers rescuing people from flood waters in Toowong in 2022. Insurance premiums have soared since then. Picture: Josh Woning

Premier Steven Miles has revealed he considered establishing a state-run insurer to go with his plans for government service stations, GP clinics and another energy retailer.

But when he asked whether it could be done, his advisers told him prices were controlled by reinsurers, limiting the effectiveness of a government-run company.

“I’m a supporter of public ownership, where that can demonstrate benefits,” Mr Miles said.

“We know that it has with power generation, we know that it has with transmission. The advice, though, consistently comes back that … it is unlikely to deliver the kind of cost benefits we would like to see.”

Opposition Leader David Crisafulli also ruled out any chance of revisiting the Joh-era days of the State Government Insurance Office, saying a state-owned insurer was not the answer to high premiums.

Mr Crisafulli said his youth crime crackdown would lower insurance costs.

“What we will do is make sure that we deal with youth crime, which will drive down your insurance premiums,’’ he said.

“We’ll also be the first government in a long, long time to build flood mitigation, which will also lower your premiums.”

The responses were to a question from a Point Vernon reader of The Courier-Mail, Brian Hermann, who asked: “As insurance premiums are now astronomical, would your party agree to reinstate a government owned insurance company?’’

Originally published as Steven Miles, David Crisafulli rule out state-owned insurer