Submission to the Northern Australia Insurance Premiums Taskforce from:
1.	North Queenslanders have been penalised in the past few years with extremely high home and contents insurance premiums compared to southern home owners who live in areas more prone to adverse weather conditions such as floods and storms,
2.	Insurers do not inspect properties for liability due to age, method of construction or location (protected or exposed) before setting premiums,
3.	Many Queenslanders have been forced out their homes or are having difficulty meeting household budgets due to unaffordable increases in insurance premiums and excesses,
4.	There appears to be no competition in the insurance industry serving properties in North and Central Queensland,
5.	Premiums took a sharp rise in the aftermath of Cyclone Yasi in 2011 and have not been adjusted for fewer claims in the following years.
6.	Profits of insurance companies have increased since 2011 and none of this money appears to have been set aside to offset rising premiums or to fund future claims,
7.	Perhaps a non-profit insurance company should be set up by government to put pressure on insurers to bring premiums down. 

Thank you