National Insurance Brokers Association CEO Richard Klipin reaffirmed the need to tackle insurance affordability during a meeting with shadow financial services minister Luke Howarth. 

Mr Klipin noted the “stark focus” on affordability as people affected by recent fires in Victoria and flooding in Queensland engage with the industry to have losses covered.  

He said it is a critical time for brokers in the affected regions to deliver for their clients.  

“Insurance brokers are on the front line, ensuring Australians get the coverage they need at a fair price – now more than ever, their role is critical in navigating affordability challenges and assisting with risk mitigation,” Mr Klipin said.

He told Mr Howarth that addressing insurance costs will require collaboration between governments, insurance groups and consumers.  

NIBA says state and federal insurance taxes are a key contributor to rising costs, and any reduction would be a “major step in ensuring there is downward pressure ... on premiums and there are less barriers to accessing insurance”.

From the latest Insurance News magazine: How Richard Klipin is ensuring brokers' voices are heard in the corridors of power