Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2021

Australia: Better measures needed to understand insurance affordability

Source: Asia Insurance Review | Jan 2021

Households in up to 12% of Australian postcodes may face pressure meeting annual home insurance premiums according to a major research paper from the Actuaries Institute.
The paper states that Australia has a sophisticated approach to pricing risk for natural disasters, which is reflected in premiums that can vary from less than A$1,000 ($743) a year to above A$10,000.
However, there is no clear and widely accepted measure for whether insurance is affordable and data is lacking to gauge the depth of the problem.
The paper therefore noted a need for temporary and targeted government intervention to help manage affordability, in at least the near term. A 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.