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