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Taking Out Insurance
Friday June 15, 2001
The runaway cost of insurance premiums is starting to bring home the long-term effects of the HIH collapse. Amid reports that over the past month personal sickness and accident premiums have risen 70 per cent, car insurance doubled and home and contents insurance increased by 20 per cent, the chairman of the Australian Competition and Consumer Commission, Professor Allan Fels, has asked insurers to justify such massive increases. His request comes at a time when public confidence in the insurance industry h