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CGU urges Victorian Government to reform fire funding

  • by The Quotesonline Team
Australia’s largest rural and regional insurer, CGU, has urged the Baillieu Government to prioritise fire services funding reform in its first year and to declare an implementation plan for removing the Fire Services Levy.
CGU Insurance CEO Peter Harmer said, “The previous Brumby Government set a timeframe for the removal of the Fire Services Levy from insurance, saying a new system would be fully in place by 1st July 2012. CGU is now calling on the Baillieu Government to announce a timetable for implementation as a matter of urgency.”
CGU commended Mr Baillieu when he said he ‘will implement in government each and every recommendation made by the Royal Commission’, a commitment that included removing the Fire Services Levy from insurance products.
“The Fire Services Levy, when coupled with the GST and State taxes, can as much as double an insurance premium, which for many in regional Victoria means purchasing an appropriate level of cover is beyond reach,” said Harmer.
“Non insurance and under insurance are significant issues which directly affect the ability of communities and individuals to recover from fire. By removing the Fire Services Levy from insurance the Baillieu Government will be eliminating a significant disincentive for consumers and businesses to purchase appropriate levels of insurance coverage.”
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