Description of Conduct
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Authorisation was sought for ten years or until such earlier time as the arrangement is superseded by another mechanism.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Authorisation was sought for ten years or until such earlier time as the arrangement is superseded by another mechanism.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
Applications
Document title | Date | |
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Received |
Decisions
Document title | Date | |
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Final Determination | ||
Draft Determination |
ACCC correspondence
Submissions - before draft decision
Submissions - after draft decision
Document title | Date | |
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Financial Rights Legal Centre | ||
Consumer Action Law Centre |