I don't think you need an international license your UK license will be fine. It only lasts so long though (like 3 months) and then I think you need an Aus license. As I'm from Victoria and your going to Queensland best check out this:
www.transport.qld.gov.au/...mation.pdf
The insurance was full comprehensive insurance. No idea how much fire and theft is. I'm not really the best person to be asking for Queensland related stuff as insurance and licensing are a little different from state to state.
