Jeremy Rockliff defends state-owned insurance plan
Premier Jeremy Rockliff has told Labor critics they should ‘embrace’ his plan for a state-owned insurance company while admitting key financial details are yet to be worked out.
The Liberals’ plan to create a government-owned insurance company is something “all you lefties should be embracing”, Premier Jeremy Rockliff has told his political opponents.
Mr Rockliff appeared before Budget Estimates committee hearings on Monday morning, where he was grilled over the plan to set up TasInsure in a bid to reduce the cost of living for Tasmanian households and small businesses.
It is intended to provide affordable insurance for home, contents, small business, community groups, events, and regional insurance.
“TasInsure is not a bad thing. I’m a conservative premier about to create a government-owned insurance company, all you lefties should be embracing it, loving the opportunity,” he said.
“Six months ago, you were saying I was going to flog everything off, and now here where you set up a state-owned insurance company, you criticise me.
“What world are we living in?”
Labor leader Josh Willie asked Mr Rockliff to produce evidence to back his claims that TasInsure would reduce premiums and grocery prices and could operate without draining the MAIB’s balance sheet or excessive financial risk.
“You don’t have any evidence to back up any of these claims. You are making it up,” he said.
Mr Rockliff said the policy would be fully worked out after the public discussion period was finished in January.
“Elections are an opportunity to have policies, we will introduce TasInsure, and we will have the required information, the business case, and modeling to ensure that we can deliver on our commitment,” he said.
“There will be a business case, there will be Treasury advice, and I look forward to providing and supporting Tasmanians with cheaper and fair insurance.
“It’s a policy and it’s a good idea. It struck a chord because Tasmanians are hurting with a whole range of areas around cost of living, but particularly insurance.”
After the hearing, Mr Willie said he was unconvinced by Mr Rockliff’s explanations.
“The Premier revealed that despite telling reporters last week that financial modelling for his thought-bubble is ‘being done now’, he still hasn’t asked Treasury to prepare a business case.
“Alarmingly, he didn’t even seem to know if Treasury had been approached, and had to ask his advisor before confirming.
“He was forced to admit that he hasn’t got any advice from MAIB, and the body he wants to underwrite TasInsure hasn’t agreed to do so.
“He again refused to provide any evidence to back up his claims that Tasmanians would save $250 under the policy, or why it would make groceries cheaper.”
The former Tasmanian Government Insurance Office was sold in 1993 for $45m to rein in the state’s $3bn debt.
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