The Productivity Commission (PC) said high insurance premiums do not indicate market failures.
This comes amid concerns about the surge in home insurance unaffordability from consumer groups.
High Insurance Prices Do Not Necessarily Lead to Market Failures: Productivity Commission
‘[Market failure] doesn’t mean that the market outcome is not the one that I want to see,’ said PC Research Manager Steward Turner.
A flooded road is seen Sydney, Australia, on April 6, 2024. Glenn Nicholls/AFP via Getty Images
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Alfred Bui
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Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
