Date lodged:
13 September 2016
Status:
Completed
Outcome:
Denied on 9 March 2017
Summary
Aioi Nissay Dowa Insurance Company Australia Pty Ltd & Ors (the Applicants) lodged applications for authorisation on 13 September 2016.
The Applicants sought authorisation on behalf of themselves and potentially other insurers to implement a proposal that would limit the commissions and other payments or benefits paid to distributors of "add-on" insurance products through the motor vehicle dealership channel. The Applicants proposed to enter into a contract, arrangement or understanding that would limit commissions to 20% of premiums.
Authorisation was sought for ten years or until such earlier time as the arrangement is superseded by another mechanism.
On 9 March 2017, the ACCC issued a determination that did not grant authorisation.
The Applicants sought authorisation on behalf of themselves and potentially other insurers to implement a proposal that would limit the commissions and other payments or benefits paid to distributors of "add-on" insurance products through the motor vehicle dealership channel. The Applicants proposed to enter into a contract, arrangement or understanding that would limit commissions to 20% of premiums.
Authorisation was sought for ten years or until such earlier time as the arrangement is superseded by another mechanism.
On 9 March 2017, the ACCC issued a determination that did not grant authorisation.
Applicant(s)
- AAI Limited
- Aioi Nissay Dowa Insurance Company Australia Pty Ltd
- Allianz Australia Insurance Limited
- Allianz Australia Life Insurance Limited
- CGU Insurance Limited
- Eric Insurance Limited
- Hallmark General Insurance Company Ltd
- Hallmark Life Insurance Company Ltd
- Insurance Australia Group Limited
- Insurance Australia Limited
- MTA Insurance Limited
- QBE Insurance (Australia) Limited
- St Andrew's Life Insurance Pty Limited
- Suncorp Life & Superannuation Limited
- Swann Insurance (Aust) Pty Ltd
- Virginia Surety Company Inc
Authorisation number(s)
- A91556
- A91557
Applications
| Document title | Date | |
|---|---|---|
| Received ( PDF 7.98 MB ) | 13 Sep 2016 |
Decisions
| Document title | Date | |
|---|---|---|
| Final Determination ( PDF 500.12 KB ) | 9 Mar 2017 | |
| Draft Determination ( PDF 536.54 KB ) | 17 Feb 2017 |
ACCC correspondence
| Document title | Date | |
|---|---|---|
| ACCC to Interested Parties re Final Determination ( PDF 147.61 KB ) | 9 Mar 2017 | |
| ACCC to Applicant re Final Determination ( PDF 146.39 KB ) | 9 Mar 2017 | |
| ACCC to Interested Parties re Draft Determination ( PDF 160.68 KB ) | 17 Feb 2017 | |
| ACCC to Applicants re Draft Determination ( PDF 156.11 KB ) | 17 Feb 2017 | |
| ACCC to Applicant ( PDF 178.61 KB ) | 21 Dec 2016 | |
| ACCC to Applicant re Interested Party Submissions ( PDF 176.53 KB ) | 26 Oct 2016 | |
| ACCC to Interested Parties re Consultation Process ( PDF 157.79 KB ) | 23 Sep 2016 | |
| ACCC to Applicant re Interested Party Consultation ( PDF 150.4 KB ) | 23 Sep 2016 | |
| Show all documents (5 more) | ||
Submissions - before draft decision
Submissions - after draft decision
| Document title | Date | |
|---|---|---|
| Financial Rights Legal Centre ( PDF 76.83 KB ) | 6 Mar 2017 | |
| Consumer Action Law Centre ( PDF 175.79 KB ) | 3 Mar 2017 |