In this Daily Financial Services News Wrap, Paige Estritori discusses important updates from Australia's financial and insurance sectors. The Insurance Council of Australia (ICA) proposes major reforms to combat rising insurance costs in Queensland, including the removal of the 9% stamp duty on premiums and stringent land-use planning. Simultaneously, BizCover urges NSW builders to secure professional indemnity insurance ahead of a new legislative requirement. Meanwhile, Marsh's market studies show a reduction in average premium rates due to increased competition among insurers. In transport news, the National Road Freight Transport Association (NatRoad) leads actions against illegal employment practices in the trucking industry. Stay tuned for more updates at financialservicesonline.com.au.

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