Tasmania’s latest budget contains no mention of the state-backed general insurer promised by the Liberals soon after the calling of a snap July election.

The party said it would establish TasInsure as a response to unaffordability and inaccessibility of insurance.

State Treasurer Eric Abetz says ministers are now seeking expert advice on the move.

“What we are doing as a government is going out to some experts if you like – specialists in the field – to advise us as to how best to go about implementing TasInsure,” he told the ABC’s Stateline program last week.

“We want to go about this in a very responsible manner and that is why we are getting specialist advice. Setting up an insurance company can’t be done overnight, but it is something that we are looking at. 

“Interestingly, we are now getting interest from our fellow state governments, both Liberal and Labor and oppositions from around Australia, expressing interest because they are also concerned about insurance premiums.”  

The ABC reported that Mr Abetz said money for a scoping study was not listed as a separate line item in the budget because it will be funded from the operating budget.

“What we want to do is drive down prices, and if those prices can be brought down without any government intervention, then I suppose that fits the solution that we were looking for, but at the end of the day, I doubt that that is going to happen without some government involvement,” Mr Abetz was quoted as saying.

TasInsure would initially provide home and contents, small business, community group and events, and regional insurance.

The policy was announced on July 11. Documents posted on the Tasmanian government’s website reveal the first communication between the Liberals and Treasury about TasInsure was on July 16, in an email that said: “Please find the attached policy for costing.”

It added: “It is expected that there are no actual or expected financial impacts associated with this policy, as the policy can be implemented utilising existing resources.”

The email said TasInsure would have a skills-based board with strong actuarial and risk oversight, tasked with operating the enterprise commercially. It would deliver cheaper insurance compared with alternative providers and stabilisation of premiums in regional and high-risk communities.