Fed: Costello says restrict payouts to keep premiums down

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Fed: Costello says restrict payouts to keep premiums down

By Jim Hanna, Economics Correspondent

CANBERRA, Feb 7 AAP - Insurance payouts had to be restricted if public liability insurancepremiums were to be kept down, Treasurer Peter Costello said today.

The federal government will soon host a forum for state and territory governments todiscuss ways to reform their public liability insurance regimes after complaints of massivepremium rises and escalating costs.

Mr Costello said there were different laws in each state and that led to differentpremiums being charged.

"I think you should have uniform laws," he told ABC …