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News Regulations28 Apr 2023

Australia:Non-life insurers call for elimination of regulatory complexity

| 28 Apr 2023

Unnecessary complexity in the regulatory regime for the insurance industry increases the cost of doing business, hinders innovation and disproportionately impacts smaller market participants and new market entrants, says the Insurance Council of Australia (ICA) in a submission to the House of Representatives Standing Committee on Economics which is holding an inquiry into promoting economic dynamism, competition and business formation.

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