The Northern Australia Insurance Premiums Taskforce’s final report was handed to the Government well before Christmas – but there are still no signs of it being made public.

The taskforce was set up to explore options for reducing home, contents and strata insurance premiums in the region, and addressed the possibility of a mutual insurer or cyclone reinsurance pool.

The vast majority of the insurance industry has rejected such proposals as market interference, instead pushing mitigation as the most viable solution.

The final report was presented to Treasury on November 30, but the findings have so far been kept a closely guarded secret.

Cairns-based MP for Leichhardt Warren Entsch, a strong advocate of government intervention, has seen the final report but has been bound to a confidentiality agreement.

“It is quite comprehensive and true to the terms of reference,” he told insuranceNEWS.com.au. “It doesn’t make any recommendations, but goes through a range of scenarios and contains some modelling.

“There are a lot of questions I would like to ask, but it’s another step in the right direction. We need to focus on things that will make a difference.”

Margaret Shaw, a campaigner for lower premiums who acted as an adviser to the taskforce, says she has not seen the report and fears it could be months before it is released.

“I doubt we’ll see anything before April, and the longer it takes the more concerned I get,” she said. “The insurers don’t want any interference, but the problem is not getting any better.

“My preference is for the reinsurance pool. I don’t mind the idea of mitigation as part of the solution, but insurance companies should be paying for it. It is their money we would be saving and they should not expect individuals or the Government to pick up the bill.”

National Insurance Brokers Association CEO Dallas Booth, who is on the taskforce reference panel, has not seen a copy either.

“I am expecting something soon,” he said. “[Assistant Treasurer] Kelly O’Dywer is speaking at the Insurance Council of Australia forum on March 4 and perhaps she is intending to make an announcement then.”

But Ms O’Dwyer’s office would not indicate when the report’s findings will be released.

“The Government has received the report and is considering it,” a spokesman told insuranceNEWS.com.au.