Wednesday, December 9, 2020

Unaffordable insurance premiums risk "market failure", inquiry report warns

Small businesses are being killed by unaffordable insurance policies with some premiums tripling in just a few years, Small Business Ombudsman Kate Carnell is warning. 

An inquiry is warning of dire consequences for Australia's economy as companies still feeling the impact of last summer's bushfires say they can't get insurance cover for more natural disasters. 

Ms Carnell tells ABC's Peter Ryan the federal government needs to be an insurer of last resort.



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