Brought to you by:

NSW election holds up ESL Monitor findings

Facebook Twitter LinkedIn Google

Quarterly reports from NSW Emergency Services Levy (ESL) Monitor Allan Fels have not been published since late last year, with delays blamed on the state election in March.

The last report published on the Monitor’s website was for the period to September 30 last year, but according to guidance outlined on the site, a further two reports should have been published since then.

The Emergency Services Levy Insurance Monitor Act 2016 specifies that the Monitor must provide NSW Treasurer Dominic Perrottet with a report within 28 days after the end of each quarter.

“As soon as practicable after receiving the report, the Treasurer has the obligation to publish the report,” the Monitor’s website says.

A spokeswoman for Professor Fels confirmed that “the Monitor has delivered the quarterly reports to the Minister in line with his statutory functions under [the Act]”.

Mr Perrottet was not available to answer questions from, but it is believed the NSW election in March is being blamed as the cause of the hold-up.

The current levy on insurance was due to be replaced with a broad-based property tax, with the Monitor appointed to ensure savings were passed on to customers.

The reform was suddenly ditched following a Government U-turn two years ago, which cost the industry $40 million, but the Monitor remained in his position and has regularly attacked insurers’ pricing mechanisms.

The Insurance Council of Australia (ICA) has complained about Professor Fels, accusing him of stepping outside his remit and failing to listen to industry concerns.

The levy is due to increase significantly from July 1, with ICA pointing out that as a result more than 50% of the cost of NSW home and contents premiums, and 60-70% of commercial premiums, will go on taxes.