Tasinusure - A Tasmanian Solution to the Insurance Crisis
tasInsure - a tasmanian solution to the insurance crisis

Transforming MAIB into a State Insurer for Businesses and Families

Transforming MAIB into a State Insurer for Businesses and Families

Tasinusure - A Tasmanian Solution to the Insurance Crisis

Policy overview / what is tasinsure?

A re-elected Rockliff Liberal Government will expand the role of the Motor Accidents Insurance Board (MAIB) to create tasinsure, a new Tasmanian State Insurer. tasinsure will offer affordable, reliable insurance products for families, small businesses, and communities increasingly neglected by national and multinational insurers.

Motor Accidents Insurance Board (MAIB) to create tasinsure, a new Tasmanian State Insurer
keep profits in state speech bubble

Why this reform? / Insurance is failing too many Tasmanians

bushfire & flood

Homeowners in bushfire and flood-prone regions are facing unaffordable premiums—or can’t get insured at all.

small business savings

Small businesses, particularly in regional areas, face soaring costs or limited options for cover.

supporting tasmanians

Local communities and industries are exposed due to insurer withdrawals and national pricing models that don’t reflect Tasmanian risk.

How does it work? / what is tasinsure?

MAIB’s mandate will be expanded, through legislative change, to allow it to offer voluntary insurance products.

A new commercial arm (“tasinsure”) will be established within MAIB, with independent governance and financial separation from its existing motor accident role.

Initial product rollout will target:

Home and contents insurance

Home and
contents insurance

tourism insurance packs

Tourism
insurance packs

Small business insurance packs

Small business
insurance packs

Landlord insurance

Landlord
insurance

Key Liberal values behind the reform

Value

How the Policy Reflects It

Personal and Economic Resilience

Helps families and small businesses manage risk in a time of global insurance instability.

Backing Small Business

Offers tailored, local insurance where national providers have pulled out.

Keeping Money in Tasmania

Profits stay in Tasmania rather than flowing to multinationals.

Market Competition

Provides competition where the private market is failing or withdrawing.

Practical Federalism

Protects Tasmania’s interests where national policy settings aren’t working for local communities.

Budget and Structure

Initial capitalisation
sourced from MAIB
reserves

Operates on a fully
commercial basis, separate from general revenue.

No impact on
compulsory CTP
premiums.

Governed by an independent board, with strong commercial, actuarial and risk oversight.

Expected outcomes

Reduce under
insurance across
Tasmania.

Stabilise premiums in regional and high-risk communities.

Increase competition and choice in the Tasmanian insurance market.

Support regional development and disaster recovery resilience.