On 22 November 2016, the Senate referred the following matters to the Senate Economics References Committee for inquiry and report by 22 June 2017:
- the increase in the cost of home, strata and car insurance cover over the past decade in comparison to wage growth over the same period;
- competition in Australia’s $28 billion home, strata and car insurance industries;
- transparency in Australia’s home, strata and car insurance industries;
- the effect in other jurisdictions of independent home, strata and car insurance comparison services on insurance cover costs;
- the costs and benefits associated with the establishment of an independent home, strata and car insurance comparison service in Australia;
- legislative and other changes necessary to facilitate an independent home, strata and car insurance comparison service in Australia; and
- any related matters.
The committee is due to report to the Senate by the 22 June 2017 and submissions can be made by 10 February 2017.
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