Property Owners in Queensland Pay up to 12 Times More for Insurance Than Southern Neighbours, Senate Inquiry

A senate inquiry has heard that some residents are paying for risks that don’t affect the areas in which they live.

Boat owners survey damage at the local marina in Port Hinchinbrook, Australia on Feb. 4, 2011. Jonathan Wood/Getty Images

Property owners in Queensland’s cyclone region are facing insurance premiums up to 12 times higher than those living near the southern border, the North Queensland Strata Action Group has told a Senate inquiry.

This disparity is exacerbated by inadequate support from insurers as the frequency and severity of natural disasters intensify.