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Queensland businesses offer views on insurance

Queensland’s Chamber of Commerce and Industry (CCIQ) will this month survey members on the impact of higher insurance costs.

GM Advocacy Nick Behrens told insuranceNEWS.com.au premiums have grown across the state but north Queensland members in particular have reported concerns about the effect on their businesses.

He says some members believe insurers are price gouging due to lack of competition, and CCIQ is concerned some businesses may be underinsuring.

The chamber will hold the survey as part of its Westpac Pulse survey of business conditions in the March quarter.

It will ask business owners what percentage insurance fees contribute to overall costs, what external factors have affected the cost of premiums, what types of insurance they have and their solutions to rising premiums.

The December survey showed insurance premiums were the third-biggest constraint on Queensland businesses.