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Business Insurance in Australia: Entrepreneurs See The System As Fair By IBTimes Staff Reporter
on July 15 2021 12:32 PM
The Insurance Industry’s PCA coverage ratio increased in the year ended 31 March 2021 to 1.71x.
2021 showed a yearly percentage change of -28.3% according to the APRA
Australia s robust insurance market is split into three sub-categories. These are: life insurance, health insurance and general insurance. These sectors are fairly independent, with most large insurance companies specialising in only one type.
Having said that, companies have recently widened their scope of application by segueing into a field that addresses more general services- including financial ones, and have consequently come face to face with fierce competition from private banks and other colossals within the investment industry.