Insurers are keeping well clear of Opposition claims the Federal Government has excluded them from high-level discussion on the global financial crisis.

Shadow Financial Services Minister Chris Pearce – who was a highly regarded Assistant Treasurer in the last Howard Government – says the Rudd Government has consulted widely with banks at the detriment of the wealth management and insurance sectors.

“Why haven’t the Prime Minister and Treasurer consulted these other key players that have millions of Australians as customers who are equally impacted by this global financial crisis?”

But insurers aren’t buying into the argument. A Suncorp spokesman moved to distance the company from Mr Pearce’s remarks when contacted by insuranceNEWS.com.au.

“We are in regular contact with the Federal Government on a range of issues that affect the health of our industry, including the recently announced package,” she said. “We commend the initiatives introduced by the Prime Minister and Treasurer.”

She said financial market initiatives “will go a long way towards maintaining the strength of the Australian financial services sector and, in turn, the overall economy”.

Allianz GM of Corporate Affairs Nicholas Scofield also played down the issue.

“It’s a two-way street,” he said. “You’ve got to deal yourself into the game if you want to be in it.”