Private insurers underwrite mandatory cover in Queensland for almost 4.7 million vehicles, from tractors to motorcycles, and scheme gross premiums and levies hit $1.7 billion last year.
The regulator sets ceiling and floor prices, but the review guidelines note all four active insurers – QBE, Allianz, Suncorp and RACQ – selected the maximum allowable amount for cars every quarter since April 2017. All insurers were charging $366 for cover this week, and cannot refuse customers…
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