They were lining up at the Insurance Council of Australia (ICA) annual forum to denounce state-based insurance taxes.

ICA President and IAG COO Andy Cornish set the tone, underlining taxes as the next big reform in the council’s sights following a successful push for abolition of the NSW emergency services levy.

And Federal Assistant Treasurer Kelly O’Dwyer was quick to tell delegates what they wanted to hear. 

Insurance stamp duties are “among the most inefficient taxes in Australia” and undoubtedly contribute to underinsurance, she said.

Not to be outdone, Shadow Treasurer Chris Bowen later repeated the exact same phrase.

And he went further, suggesting the Government’s abandonment of the tax white paper represents a missed opportunity to complete long-awaited reform.

Yet, when asked if a Labor federal government would abolish insurance taxes, the answer was far from clear.

Reform must be driven by the states, he says, and the role of the Commonwealth is debatable.

So, whichever way it turns, the industry appears to be left with the same old platitudes and lack of hard action.