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On 8 December 2023, the ACCC released its second report as required under the Competition and Consumer (Price Monitoring—General Insurance Policies) Direction 2022.
The ACCC has been directed to monitor the prices, costs, and profits of home, contents, strata, and certain commercial insurance policies, before and after the government’s cyclone reinsurance pool was introduced.
On 20 December 2022, the ACCC released its first report as required under the Competition and Consumer (Price Monitoring—General Insurance Policies) Direction 2022.
In 2017, the Australian Government directed the ACCC to conduct a wide-ranging inquiry into the supply of residential building (home), contents and strata insurance in northern Australia.