POPULAR WORDS

State solutions to the rising insurance premium problem will need national help, the Queensland Treasurer says. A national summit on the issue, which has threatened the viability of small businesses and community groups, has been called for next month by Federal Assistant Treasurer Helen Coonan, with the Commonwealth telling the states to bring forward solutions. Under the constitution, the states have responsibility for insurance, however state Treasurer Terry Mackenroth says a national approach is needed. "In Queensland, we have set up a taskforce to consider a range of proposals to address insurance premiums including a voluntary insurance pool or group insurance," Mackenroth says. "However, the reality is that many of the proposals, especially in areas such as legal reform will need a national approach." Shadow Attorney-General Lawrence Springborg called on the state government to continue with its plans for reform within Queensland despite the announcement of the national summit. "While it (state government) should cooperate with the federal government, the summit should not be used to delay state legislation aimed at helping the thousands of Queenslanders affected by the insurance crisis," Springborg says. "Unless a national approach is taken by all state governments, Queensland community and business groups could still be disadvantaged by high insurance premiums brought by interstate insurance companies." Retailers Association of Queensland (RAQ) executive director Patrick McKendry says a national scheme to cap payouts suggested by Small Business Minister Joe Hockey would benefit small business. "I don't believe that the economy and the community can support any higher payouts," McKendry says.