Spiralling fire services levy halted – for now
NSW fire services levies remain generally unchanged after the latest review, with some insurance-buyers likely to get a marginal decrease in charges.
Levies on NSW fire, industrial special risks and consequential loss policies have been reduced from 38% to 36% while the levy on domestic household policies is down from 20% to 19%.
Other fire service levies charged in NSW, Victoria and Tasmania remain unchanged.
The fire services levy faces increasing scrutiny after the Victorian bushfires which destroyed more than 2000 homes. It is estimated up to a third of those homes were not insured and insurance industry representatives claim Victorian fire services levies of up to 63% were a key contributing factor.
Levies on NSW fire, industrial special risks and consequential loss policies have been reduced from 38% to 36% while the levy on domestic household policies is down from 20% to 19%.
Other fire service levies charged in NSW, Victoria and Tasmania remain unchanged.
The fire services levy faces increasing scrutiny after the Victorian bushfires which destroyed more than 2000 homes. It is estimated up to a third of those homes were not insured and insurance industry representatives claim Victorian fire services levies of up to 63% were a key contributing factor.