Panels to provide advice on the planned Northern Australian cyclone reinsurance pool are being tapped for regular input as Treasury keeps a tight hold on information as it works to deliver the project by the middle of next year.

A Treasury taskforce is liaising with an industry expert advisory panel and a separate non-technical panel that includes representatives from those living and working in northern Queensland.

insuranceNEWS.com.au understands those on the expert panel have signed confidentiality agreements, and neither Treasury nor the Federal Government would answer questions about the make-up of the panel or its work.

Other broader stakeholders say they have not been informed about its work either. “There’s no accountability, no transparency, no information and no advice,” one told insuranceNEWS.com.au.

However, another stakeholder says it would be unusual for such deliberations to be made public prior to a government decision on how to proceed.

Northern Australian Insurance Lobby Chairman Margaret Shaw is on the non-technical panel, and says Treasury is providing participants with questions for feedback and online meetings have been held, but it would be beneficial for more information to be shared, including on the work of the other panel.

“It would be nice if once a quarter we could talk together to see if we are all on the same page,” she told insuranceNEWS.com.au. “They could be going down a completely different way to us, and they might have their reasons for doing that, which we haven’t thought about.”

Ms Shaw says the reinsurance pool should provide broad cover and it’s important it doesn’t sideline certain types of developments and risks that would benefit from the process.

“I want to make sure that we include as many people as possible,” she said.

The Northern Australian Insurance Lobby was formed earlier this year as a not-for-profit consumer representative group, focusing on affordability and availability issues across the cyclone-prone region.

The non-technical panel also includes representatives from the Townsville Chamber of Commerce, Cairns Chamber of Commerce, Joe Vella Insurance Brokers, North Queensland Insurance Brokers, consultancy AEC Group and Enterprise North.

Prime Minister Scott Morrison announced the pool, backed by a $10 billion government guarantee, in May. It will be administered by the Australian Reinsurance Pool Corporation and will operate from July 1 next year.

Treasury released a consultation paper in May with feedback requested by June 18 and says non-confidential submissions will be made available “in due course”.

insuranceNEWS.com.au understands the industry expert advisory panel includes representatives of the National Insurance Brokers Association, Suncorp, IAG, Allianz, QBE, RACQ, Swiss Re, Willis Re and the Insurance Council of Australia.

Those on the panel have been asked to give advice as individuals, and not on behalf of their companies or organisations.