That’s what Federal Minister for Revenue and Assistant Treasurer Mal Brough had to say to the insurance industry last week, which must have come as a relief to the insurers. They are under siege from the legal profession, with a High Court judge joining the debate over tort reform.

Mr Brough told the Insurance Council of Australia’s (ICA) NSW conference last week the industry should hold its head high when it comes to the tort reform process. But then it shouldn’t rest on its laurels, either.

His comments come on the back of weeks of negative feedback from consumer and lawyer groups that tort reform has limited the rights of consumers, without having an effect on insurance premiums.

Now one of Australia’s most famous senior judges, Justice Michael Kirby of the High Court, has voiced his concerns over tort reform. He told the Australian Financial Review last week the industry could suffer if the public thought high premiums are being paid to an industry whose liability is being reduced through the reforms.

“Whilst in Australia we roll back the entitlements of those who suffer damage, in the name of ‘personal responsibility’, we have to be careful that we do not reject just claims,” he said. “These are important questions for the insurance industry.

“[The insurance industry] will not thrive if it becomes known, or suspected, that high premiums are paid when its liability is being significantly and constantly reduced,” Justice Kirby said.

Speaking at last week’s ICA NSW conference, Mr Brough said Federal and State governments experienced pressure from all sides over the tort reform debate, but it is aware of how much legislative change has already done for consumers. “If it’s perceived that the industry is doing the wrong thing… government and industry need to show what’s really happening”.

He said it’s wrong for consumers and legal lobbies to attack insurers for making healthy profits. “There is nothing wrong with the word profit,” he said. “In fact, I wonder if anybody has ever questioned the profits that plaintiff lawyers receive.”

But he says insurers should be wary of how they announce their profits. “Don’t take that glass of champagne too far when profits are released.”

Mr Brough says consumers have already benefitted in three ways from tort reform:  “Lower premiums, being able to get insurance, and the industry is still here.”

However, he says the industry shouldn’t be parading its good fortunes just yet. “It’s very early days for tort reform. One message I’d have for insurers is, ‘don’t take your eye off the ball’.”

He says it’s important the industry and governments work together to complete the tort reform process.

“If we lose the confidence of the public it [the completed tort reform process] won’t go forward,” Mr Brough said. “I’m not prepared to lose the battle. Too many people rely on the industry, and if we lose the tort reform battle, the lessons of HIH will be lost.”

He said state and federal leaders will meet in Darwin later in the year to discuss the issue of “forum shopping” – which occurs when plaintiffs move their cases from jurisdiction to jurisdiction until they find personal injury laws to suit them. “We need a uniform approach on this... and we’ll be pushing it through.”