You're right about death being cheaper in general. Say you accidentally hit someone with your car. Often you'd be better off killing the person than causing a major injury like spinal damage, for which you could be liable for a lot more (medical & recuperation, pain & suffering, etc).
Insurance companies know this.
But yeah, Queensland is bigger than it looks on a map and has a lot of remote areas that are (realistically) only accessible by plane or helicopter. Especially in the far north and west, but coastal regions too (there are many islands). It takes about 3 days driving to get from Brisbane to Cairns, 2 days only if you really push it. In addition to going from A to B, people use helicopters to herd cattle and track crocodiles, visit islands and perform rescues, and hundreds of other things.
There was a famous crocodile wrangler that died in a helicopter accident in 2022, has a court case attached, but unfortunately and inconveniently for us, that happened in the Northern Territory (next door).
Most of the data actuaries use is in public domain if you care to look for it (in one of my hats I am a data analyst, but have better things to do unless someone wants to pay me). But going on my gut feeling, as I also grew up in Queensland and know motorbikes, is that ultralights seem a lot safer. Even tail-draggers.