Insurance premiums have been rising since 2014, and the Australian Consumer Law (ACL) has been introduced.It requires insurers to offer “fair and reasonable” rates to people, with a cap of 10 per cent of the value of the policy.The ACL provides some examples of what that means: your annual car insurance premium is capped at […]
article Selective insurance, or the insurance that allows the company to charge an inflated premium based on the age of the insured, has been a major issue for some insurance companies for decades.Insurers that use selective insurance are known as “premium gougers” because they charge higher premiums for older, sicker consumers, and they use the […]