Rural communities are another insurance hotspot the industry should be considering carefully. The powerful NSW Farmers’ Association said last week that rising premiums are threatening the viability of rural communities.

The association’s Business, Economics and Trade Committee Chair, Ian McClintock, said governments are still not doing enough to stem the blowout in costs associated with public liability, professional indemnity and property insurance.

“Everyone from pony clubs to doctors is being forced to cancel events or limit the services they can provide because they simply can’t afford the rising cost of cover,” he said. “This is leading to potentially life threatening situations and attacking the social fabric of our communities and rural way of life,” he said.