The Tasmanian government says it has appointed industry consultant John Trowbridge to support the delivery of its proposed state-run insurer TasInsure.

“Mr Trowbridge has hit the ground running, with work already under way on options for operating arrangements,” Premier Jeremy Rockliff said.

“The work of Mr Trowbridge will be vital in establishing TasInsure. He is a leading expert in insurance and I look forward to working alongside him.”

The Hobart Mercury reported that Mr Rockliff called Mr Trowbridge “the Michael Jordan of the Australian insurance industry”.

Mr Rockliff says this fire and flood season has shown the importance of Tasmanians having access to a “fairer and cheaper solution”.

“Cyclone Koji has battered northern Queensland, fire has ravaged Victoria and we are already seeing peak insurance bodies warn that this will impact premiums,” he said.

“For too long, Tasmanians have been underinsured, unable to get insurance or paying the price of disasters on the mainland.”

Mr Trowbridge was last year recognised in the King’s Birthday Honours, receiving a Medal of the Order of Australia for services to business, the risk management sector and the actuarial profession.

He worked on the privatisation of GIO decades ago, when the sale of public assets was the trend, and has completed reviews for governments and industry.

Last year he questioned the TasInsure proposal and cautioned a thorough cost-benefit study was needed.

The Tasmanian government has received 18 submissions after a TasInsure discussion paper and preliminary draft legislation were released last year.

The National Insurance Brokers Association submission says the government needs to release comprehensive financial modelling including stress testing under major loss scenarios before finalising legislation.

It says the government should instead prioritise fire service levy reform, which would be the most direct mechanism for delivering premium relief.  

The Australian Lawyers Alliance Tasmanian branch’s submission questions the need for a state-owned general insurer and warns any model should be kept separate from the compulsory third party scheme for motor accidents.

“The intention to reduce insurance costs is admirable, but unless approached with care, it creates risks to both the insurer and the insured,” it said.