The Australian Government has asked the Australian Competition and Consumer Commission (ACCC) to investigate home, contents and strata insurance in northern Australia.
The inquiry will help to address concerns about insurance affordability, promote more informed and more competitive insurance markets and make a difference for consumers in northern Australia.
The law gives the ACCC power to get information from insurers that other reviews have not been able to get. They will also look more closely at the level of competition between insurers than other reviews have been able to.
If you live in northern Australia, the ACCC want to hear your views about:
- what is important in your decisions about insurance,
- how you get information and how easy the information is to understand
- whether you have switched insurers (and why you have or have not) and
- whether you have taken action to reduce your risks
Northern Australia broadly corresponds with the Northern Territory, those parts that are north of the Tropic of Capricorn, and some areas just south of the tropic, including Gladstone.
There is a full issues paper on the ACCC website covering the issues that are investigating.
To find out more about to submit your response to this inquiry go to the ACCC website here.