Industry groups outlined the need for more disaster mitigation and removing insurance taxes and stamp duties as action that would reduce premiums.

One Nation has announced it would back proposals to scrap GST on insurance premiums, with party leader Pauline Hanson blaming crime and natural disasters for rising costs. 

“One of the more perverse outcomes from escalating crime is that the federal government receives more revenue on the back of rising insurance premiums,” Ms Hanson said.  

“Crime should not pay; not for the criminals who commit crime, and not the government either. 

“If we are in a position to implement this policy after the election, it is hoped this exemption will encourage more Australian households and businesses to maintain their insurance policies and encourage states and territories to do more about escalating crime.”