Close

NSW Fire Service Levy changes and natural disasters lead to increased insurance costs

03/06/2018

NSW Fire Service Levy changes and natural disasters lead to increased insurance costs

NANA has noticed that due to increases in the NSW Fire Service Levy (FSL) and the incidence of natural disasters, insurance premiums are on the rise for 2018/19.

The natural disasters – cyclones, floods and major storms, have impacted all areas across Australia. This has seen Insurers pay the highest levels of claims seen in recent years triggering reinsurance renewal rates for insurers to increase.

There increase in the FSL from 30% to 36% is compounded by the impact of Stamp Duty and GST.

Through Newspack Insurance Broking, NANA supports Members and the wider industry by supplying insurance solutions tailored to the needs of Newsagents, not panel beaters, hairdressers or other forms of small business.

To check for a competitive quote on your insurance needs, contact Tania at Newspack Insurance Broking.