Mr Taylor contradicted Opposition Leader Peter Dutton by saying the Liberals had no plans to extend divestiture powers to the insurance sector.
His comments came a couple weeks after Mr Dutton told Sky News a government he led would intervene in the insurance market if consumers were being ripped off, "as we've done with supermarkets, where we have threatened divestment".
Asked about the policy on Wednesday, Mr Taylor said the coalition would keep the policy confined to supermarkets and hardware.
"Not insurers?" asked Australian Financial Review (AFR) political editor Phil Coorey.
"No, we've been clear about that," Mr Taylor told the AFR Business Summit in Sydney.
With an election likely to be called in coming days, the man gunning for the treasurer's office spruiked the coalition's broader economic platform.
The economy had stalled under Labor, with Australians experiencing a fall in living standards and excessive government spending crowding out private investment, he said.
A coalition government would make it easier for foreign investors from friendly nations to put their money in Australia as well as slashing red tape to boost productivity, he said.
The coalition would create a white list for trusted investors to reduce the paperwork needed to gain approval from the Foreign Investment Review Board, speeding up decision times which currently take 41 days on average.
"This is why the coalition will establish a task force to overhaul the FIRB regime, balancing timely attraction of investment with a sharp focus on genuine risks," Mr Taylor said.
"This is about smarter screening, not weaker oversight - a faster yes and a faster no - ensuring we focus resources where they are needed most while fast-tracking responsible investment."
The coalition would also order the Productivity Commission to conduct an annual stocktake of the economic costs regulation was having on the economy.
"While the task is broader than reducing regulation alone, this is a structural change that will support ongoing deregulation across the economy," Mr Taylor said.
Overly complex regulation has been singled out as a reason behind Australia's abysmal productivity performance in recent years, with even Joe Longo, chair of financial regulator ASIC, calling for simplification of regulatory frameworks.
