Statistics confirm premiums on the increase
New figures from the Australian Bureau of Statistics (ABS) confirm what the industry has been saying for at least a year – personal lines premiums are on the rise.
The ABS Analytical Living Cost Indexes for Selected Australian Household Types reveal that insurance premiums increased steadily in the year to June, with employed policyholders now paying 6% more for their cover.
Pensioners were hardest hit, sustaining an average 8% increase in insurance premiums.
The ABS Analytical Living Cost Indexes for Selected Australian Household Types reveal that insurance premiums increased steadily in the year to June, with employed policyholders now paying 6% more for their cover.
Pensioners were hardest hit, sustaining an average 8% increase in insurance premiums.