Tasmanian Premier Jeremy Rockliff says a new TasInsure statutory body will make the state an insurance affordability “pacesetter” for the rest of Australia.

Mr Rockliff has faced accusations he broke a signature election promise and “preyed on Tasmanians who are struggling with the rising cost of insurance in exchange for votes, and misled them that help was on the way”.

But responding to the opposition Labor Party’s criticism in parliament, the Premier said Tasmania alone is tackling insurance affordability and availability.

“We’re the only state in Australia that’s taken on this responsibility to intervene in the market and support Tasmanians by isolating risk,” he said.

“Tasmanians should not be paying premiums based on risks of other states in terms of flood and fire, so we’re isolating that risk.

“Clearly, we have intervened in this policy area, which no other state has. I called for it nationally, particularly when it comes to the areas of tourism, hospitality and agritourism.

“In the absence of national leadership, we’ve taken it on as a state.”

The Liberals’ 2025 election pledge flagged state-backed home and contents, small business, regional and community group insurance. A shop with TasInsure branding was established in Launceston.

But last week, a new plan was revealed: to establish a statutory authority that will partner with the insurance industry and offer “advisory, transparency and comparison functions”.

It will have three divisions: consumer, market and risk assessment/mitigation.

The revised plan – which insurers applauded – comes after an assessment of insurance in Tasmania by industry consultant John Trowbridge.

“Yes, there is a change from state-owned company to state-owned statutory authority,” Mr Rockliff said yesterday.

“I own that change because it’s less expensive and less risk for the Tasmanian taxpayer but delivers on cheaper and fairer insurance.

“Mr Trowbridge clearly articulates that in his report to government, which we have listened to. The principles are exactly the same.

“You will see TasInsure on your insurance policies – policies that will be cheaper, fairer and, indeed, more affordable. A TasInsure-endorsed insurance outcome.”