We strongly support all 28 recommendations that the ACCC has now made to governments and industry. We echo the ACCC’s call for governments and industry to act quickly on all 28 recommendations that have now been made as a part of this inquiry.
As for the additional ACCC inquiries Financial Rights only supports direct government intervention measures that are going to be sustainable and can be applied nationally. We believe mitigation measures (both pubic and private) are the most likely measures to improve affordability and availability of insurance that will be sustainable in the long term. We also submit that contestability of insurance premiums and independent assessment mechanisms are critical for mitigation measures to work properly.
