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International

Insurers must explain rise in policy rates under new rules

January 16, 2018 Reprints

Kelly O'Dwyer, Australia's Minister for Revenue and Financial Services, said that insurers would need to explain why insurance prices are increasing and by how much as part of new measures being considered by the government, Asia Insurance Review reported citing the Daily Telegraph. Ms. O'Dwyer said that the Department of the Treasury is considering requiring insurers to include the previous year's premium on renewal notices and explain what has changed to make their policy more expensive.

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Insurers must explain rise in policy rates under new rules

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