30 June 2011

Senator the Hon. John Hogg
President of the Senate
Parliament House
CANBERRA ACT 2600



Dear Mr President

Pursuant to Senate Standing Order 38(7), I present to you an interim report of the Economics References Committee in relation to the committee’s inquiry into state government insurance and the flood levy.

The matter was referred to the committee on 3 March 2011 for report by 2 May 2011. The Senate granted an extension of time for reporting until 30 June 2011. A key part of the inquiry is the committee's request for information from the Queensland state government relating to correspondence it has had with insurers and reinsurers in seeking insurance services or insurance products for state government assets. The committee received around 800 pages of information from the Queensland Government on 21 April 2011.

The committee held a public hearing in Canberra on 13 May 2011 and has drafted a report based on this evidence. However, there remain several unanswered Questions on Notice for the Queensland state government. The committee asked for a response to these questions by 17 June. On 17 June, the state government contacted the committee to request more time to provide a response. The committee believes that answers to these questions are important for it to form a fuller picture of the reasons why Queensland did not purchase a reinsurance policy.

Consequently, the Committee has decided to present a further interim report and request an extension of time to report until Friday 29 July 2011.



Senator Alan Eggleston Chair