The NSW Emergency Services Levy (ESL) Insurance Monitor has suspended a ruling requiring year-earlier pricing details to be included on renewal notices.

The information was intended to make the price impact of removing the ESL from policies transparent, but the Government has backed away from a plan to instead collect the levy alongside council property rates from this financial year.

A notice published in the Government Gazette this month says the comparison pricing details will not be required until July 2019.

“With deferral of the property-based fire and emergency services levy and re-establishment of the insurance-based emergency services levy in NSW, the monitors have considered it appropriate to also defer the Section 30 notice,” Deputy Monitor David Cousins told insuranceNEWS.com.au.

“Deferral of the notice requirement will allow sufficient time for all insurers and brokers to amend systems and conduct market testing to meet the new timeline.”

Professor Cousins says the decision follows consultation with stakeholders.

National Insurance Brokers Association CEO Dallas Booth says it is a sensible outcome.

“Clients and policyholders will still receive accurate information about the reinstatement of the emergency services levy on insurance premiums, and insurers and brokers will not have to go to the effort of providing a premium renewal comparison for the next two years,” Mr Booth said.

ESL Insurance Monitor Allan Fels and Professor Cousins argued for the previous year’s premiums to be included generally on renewal notices in a submission to a Senate inquiry into the insurance industry, citing action taken in the UK.

The inquiry’s final report, published this month, includes the proposal among 15 recommendations.

“The monitors are strongly supportive of insurers implementing the year-on-year comparison on their premium renewal notices and welcome the Senate committee’s recommendation,” Professor Cousins said.

He says they endorse insurers that are voluntarily moving to include the comparisons.