Australian insurers who have dramatically raised their premiums since the Queensland floods are guilty of `gouging’ customers, Premier Anna Bligh says.
In one case, the North Burnett Council was asked to pay 65 per cent more to insure its property – a rise of almost A$100,000 (US$102,605) compared to last year.
The Premier said some insurance companies were being unfair.
“It is clear that some insurance companies are increasing at a rate that I think is beyond reasonable,” she told reporters in Cairns on Monday.
“Some insurance companies are lifting rates by such a high level it can only be described as gouging.”
Ms Bligh said Queenslanders should seek out insurance companies who had helped customers during the floods and Cyclone Yasi.
“What we learnt last year is that not all insurance companies are the same – some went out of their way to help their clients, others went out of their way to make it harder.
“I just say to people … if your company is lifting your rates to ridiculous levels, shop around. There are insurance