ICA's Push for Queensland Reforms: Aiming to Lower Insurance Costs and Strengthen Housing Resilience

Exploring the Six Key Recommendations for a More Sustainable Construction Industry

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The Insurance Council of Australia (ICA) has submitted six key recommendations to the Queensland Productivity Commission's inquiry into the construction industry, focusing on improving land use planning, taxation, regulation, and workforce management to enhance economic efficiency and disaster resilience.

Notable recommendations include:

Abolishing Insurance Stamp Duty: The ICA calls for the removal of the 9% stamp duty on general insurance premiums, which amounted to $1.66 billion in 2024-25, averaging $265 per resident.
Reviewing Land Use Planning: The council suggests revising planning arrangements to ensure future developments avoid high-risk areas, particularly those prone to flooding.

These reforms aim to reduce insurance costs for consumers and enhance the resilience of housing infrastructure against extreme weather events.

Published:Sunday, 28th Dec 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

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Knowledgebase

Replacement Cost:
The amount it would cost to replace or rebuild an insured asset with one of similar kind and quality, without depreciation.

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