News Non-Life19 Dec 2018

Australia:Insurers seek to limit exposure in northern region

| 19 Dec 2018

The insurance market in Northern Australia exhibits an unusual competitive dynamic: insurers are not actively trying to win market share in some high risk areas in the region, but are instead seeking to deter customers and limit their exposure by raising premiums, leading to soft competition, according to a report by the Australian Competition and Consumer Commission (ACCC). Markets at the regional level were also found to be highly concentrated.

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