Income Protection NZ :: News
SHARE

Share this news item!

ICA Calls for Comprehensive Reforms in Queensland's Insurance and Building Sectors

ICA Calls for Comprehensive Reforms in Queensland's Insurance and Building Sectors

The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction and insurance sectors.
These proposals are designed to enhance the resilience of the built environment and improve the affordability of insurance for Queensland residents.

One of the primary concerns highlighted by the ICA is the 9% stamp duty imposed on general insurance premiums. In the 2024-25 period, Queensland residents collectively paid approximately $1.66 billion in insurance stamp duty, averaging $265 per person. The ICA advocates for the removal of this tax to alleviate financial burdens on policyholders and encourage broader insurance coverage.

In addition to tax reforms, the ICA emphasises the need for improved land use planning and building regulations to bolster the resilience of structures against natural disasters. By integrating resilience measures into the National Construction Code, new homes can be constructed to better withstand extreme weather events, potentially saving billions in future damage costs.

The ICA's recommendations also address workforce flexibility within the construction industry. By streamlining regulatory processes and fostering a more adaptable workforce, the industry can respond more effectively to evolving challenges, including labour shortages and escalating construction costs.

These proposed reforms come at a critical time, as the construction sector grapples with rising material costs and a shortage of skilled labour. Implementing the ICA's recommendations could provide a pathway to a more sustainable and resilient construction industry in Queensland, ultimately benefiting both builders and homeowners.

In conclusion, the ICA's call for comprehensive reforms in Queensland's insurance and building sectors underscores the importance of proactive measures to enhance resilience and affordability. By addressing key issues such as tax burdens, regulatory frameworks, and workforce flexibility, these reforms have the potential to strengthen the construction industry and provide greater protection for Queensland residents.

Published:Thursday, 29th Jan 2026
Source: Paige Estritori

Share this news item:

Insurance News

Bupa's Strategic Expansion into Mental Health Services Bupa's Strategic Expansion into Mental Health Services
29 Jan 2026: Paige Estritori

Bupa, a leading health insurer in Australia, has unveiled plans to significantly enhance mental health services by establishing a network of clinics named Mindplace. This initiative aims to open 60 clinics nationwide by 2027, aligning closely with the government's objective of operating 61 walk-in Medicare Mental Health Centres by mid-2026. - read more
Federal Support Secures Cohealth's GP Services Amid Financial Strain Federal Support Secures Cohealth's GP Services Amid Financial Strain
29 Jan 2026: Paige Estritori

In response to financial challenges faced by Cohealth, a non-profit community health service, the federal government has allocated $1.5 million to maintain its GP services in Melbourne's inner north and west. This funding ensures that clinics in Collingwood, Fitzroy, and Kensington will remain operational until 31 July 2026, providing essential care to approximately 12,500 patients who were at risk of losing access to their GPs. - read more
Rising Out-of-Pocket Costs Challenge Australia's Universal Healthcare Rising Out-of-Pocket Costs Challenge Australia's Universal Healthcare
29 Jan 2026: Paige Estritori

Patients Australia, in collaboration with La Trobe University, has released the 2025 Patient View Report, shedding light on the increasing financial burden faced by Australians seeking healthcare services. The report indicates that 62% of patients incur out-of-pocket expenses when visiting their GP, with nearly half of these individuals paying an average gap fee of $51 or more. - read more
Australian Insurers Adapt Investment Strategies Amid Geopolitical and Economic Changes Australian Insurers Adapt Investment Strategies Amid Geopolitical and Economic Changes
29 Jan 2026: Paige Estritori

Australian insurers are actively revising their investment portfolios in response to evolving geopolitical events and a stabilizing economic environment. A recent report by Janus Henderson Investors reveals that 47% of insurers plan to increase their investment portfolio risk in the next 12 months, with a significant focus on private markets. - read more
Mandatory Professional Indemnity Insurance for NSW Builders by 2026 Mandatory Professional Indemnity Insurance for NSW Builders by 2026
29 Jan 2026: Paige Estritori

Registered building practitioners in New South Wales are facing a critical deadline to secure professional indemnity (PI) insurance by July 1, 2026, in accordance with the Design and Building Practitioners Act 2021. This legislation, which originally set a 2025 enforcement date, has been extended by 12 months to allow the industry additional time for preparation. - read more
ICA Calls for Comprehensive Reforms in Queensland's Insurance and Building Sectors ICA Calls for Comprehensive Reforms in Queensland's Insurance and Building Sectors
29 Jan 2026: Paige Estritori

The Insurance Council of Australia (ICA) has recently submitted a series of recommendations to the Queensland Productivity Commission, aiming to reform the state's construction and insurance sectors. These proposals are designed to enhance the resilience of the built environment and improve the affordability of insurance for Queensland residents. - read more


Life Insurance Articles

Understanding Various Life Insurance Types: Which One is Right for You? Understanding Various Life Insurance Types: Which One is Right for You?
Financial security is one of the most important aspects of modern family life. Ensuring that loved ones are protected and well-supported in the event of an untimely death is a fundamental concern for many Australians. - read more
Maximizing Your Income Protection Payout: Tips and Strategies Maximizing Your Income Protection Payout: Tips and Strategies
In the realm of personal finance, security is a cornerstone that cannot be overlooked, and this is where income protection insurance steps in. For Australians, the peace of mind that comes with knowing you're covered against loss of income due to illness or injury is invaluable. This form of coverage acts as a financial safety net, ensuring that life's unexpected twists do not leave you in a lurch. - read more
How Tradespeople Can Maximize Tax Deductions Through Insurance How Tradespeople Can Maximize Tax Deductions Through Insurance
Tradespeople work hard to earn their income, often facing unique expenses that can impact their bottom line. Understanding and maximizing tax deductions is crucial for minimizing these costs and keeping more of what they earn. By making informed decisions about expenses, tradespeople can significantly reduce their taxable income. - read more
Why life insurance is a necessity in tough times Why life insurance is a necessity in tough times
With household budgets under pressure ... and consumer confidence weak, many families are wondering whether life insurance is worth the expense. Or maybe it is something they can do without? - read more
Tips and Tricks for Fitting Insurance Premiums into Your Monthly Budget Tips and Tricks for Fitting Insurance Premiums into Your Monthly Budget
Understanding the significance of insurance in managing your finances is crucial. It acts as a safeguard, providing a buffer against unexpected losses or damage to your most valuable possessions. However, the costs associated with this necessary protection can be challenging to manage, especially when it comes to fitting insurance premiums into a monthly budget. - read more
Maximize Your Safety Net: Top Tips for Optimizing Income Protection Benefits Maximize Your Safety Net: Top Tips for Optimizing Income Protection Benefits
Welcome to a pivotal guide dedicated to empowering you with the essentials of income protection insurance in Australia. As we navigate through times of uncertainty, safeguarding your financial wellbeing becomes not just a priority, but a necessity. Income protection insurance stands as one of the key pillars of financial security, ensuring a steady flow of income during periods when you're unable to work due to illness or injury. - read more

Start Here !
income insurance protection

Start Here

Monthly Income Benefit:
Postcode:

All quotes are provided free and without obligation. We respect your privacy.

Knowledgebase
Professional indemnity:
An insurance that provides cover for liability incurred in the course of exercising a profession.