The Emergency Services Levy Insurance Monitor (ESLIM), Allan Fels, has issued a notice in Government Gazette No. 46 (7 April 2017), p. 1,189, under the Emergency Services Levy Insurance Monitor Act 2016 No. 23 (NSW), notifying a Public Inquiry into “matters relating to prohibited conduct in the insurance industry”.
The Public Inquiry will examine:
- the basis upon which insurance companies are determining insurance premiums for regulated contracts of insurance in the period leading in to and following the abolition of the ESL;
- how insurance companies are intending to ensure that the benefits of the removal of ESL are fully passed on to policyholders; and
- how insurance companies are intending to communicate the effect of changes to insurance premiums and the ESL to policyholders.
The Public Inquiry will be conducted on 16 May 2017 in Sydney.
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