To win over voters ahead of this Saturday’s election in the Apple Isle, Premier Jeremy Rockliff has announced the launch of TasInsure, a state-backed insurance company designed to provide affordable insurance for locals.
“It will be able to cover everything from home and contents, to community clubs, small businesses and farm insurance too. And it will be cheaper and easier to access than anything else in the market,” he said.
“We expect it will save Tasmanian households hundreds of dollars a year. And small businesses, even more. Which means lower prices for you. It will be cheaper, it will be fairer.
“And it will be ours.”
TasInsure will be backed by Tasmania’s Motor Accidents and Insurance Board (MAIB), which according to Rockliff, currently has “around $2 million in assets sitting on its books”.
The announcement has been welcomed by Clubs Tasmania, calling it a “game-changing development” for grassroots sporting clubs, community organisations, and RSLs across the state, like the King Island Club, which has been operating without building insurance after premiums jumped from $25,000 to $70,000 about 18 months ago.
“For many clubs, and more so in regional areas, rising insurance costs have been a major burden. This 20 per cent saving will make a real difference,” Clubs Tasmania project manager Tom Darke said.
“This is a huge win for community clubs across Tasmania. Insurance costs have become unsustainable – and in some cases, simply unworkable.
“We’ve seen clubs forced to reduce services, cancel events, or even shut their doors altogether because they couldn’t find affordable or suitable insurance. That’s not just a problem for the clubs – it’s a problem for entire communities who rely on them.”
Similarly, the Tasmanian Hospitality Association has described TasInsure as a “major win” for the local hospitality sector.
“Whether it’s a small bar, a country pub, or a family-run restaurant, every venue deserves to be able to insure itself properly without it becoming a financial burden,” THA chief executive Steve old said.
“We commend the government for recognising the urgency of this issue and delivering a practical fix. This reform will protect jobs, protect businesses, and restore some much-needed confidence across our industry.”