Insurance

Insurance cover

The Government has created a cyclone and flood related damage reinsurance pool. From 1 July 2022, insurance companies will use the pool, a financing mechanism, to increase their ability to support specific types of risks.

Private health insurance report 2020-21

This report provides an update on key competition and consumer developments and trends in private health insurance between 1 July 2020 and 30 June 2021.

Private health insurance report 2019-20

This report provides an update on key competition and consumer developments and trends in private health insurance between 1 July 2019 and 30 June 2020. It focuses on insurer responses to the COVID-19 pandemic, but also provides an update on ACCC enforcement action and other developments relating to the health sector.

Insurers to be authorised to continue relief measures for small businesses

The ACCC is proposing to allow insurance companies and brokers to continue coordination and implementation of temporary COVID-19 relief measures for certain small businesses.

The authorisation will apply to Suncorp, Allianz, QBE Insurance and other insurers or insurance brokers who have notified the ACCC.

Under an urgent interim authorisation granted by the ACCC on 2 April 2020, insurers and brokers were granted temporary permission to coordinate a range of relief measures to eligible policyholders whose insurance premiums fall due before 30 June 2020.

Insurers to offer deferred payments, refunds under small business relief package

Insurance companies and brokers will be able to work together to implement COVID-19 relief measures for certain small businesses following the ACCC’s granting of interim authorisation today.

The authorisation applies to Suncorp, Allianz, and QBE Insurance, as well as any other insurers or insurance brokers who choose to take part, as long as they notify the ACCC.

Private health insurance report 2018-19

This report analyses key competition and consumer developments and trends in the private health insurance industry between 1 July 2018 and 30 June 2019, including ACCC enforcement and other actions relating to the health sector.