Key Points
- New data has revealed insurance prices increased by over 16 per cent in the 12 months to the December 2023 quarter.
- Experts and insurers say higher reinsurance, natural disasters and costly claims contributed to the higher premiums.
- The Insurance Council of Australia said insurers have experienced “very low profits” for three consecutive years.
If your insurance premium has gone up in the last year, you’re not alone.
According to the, insurance premiums had their largest…
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