Search

A{RA defends proposal

THE Australian Prudential Regulation Authority says raising premiums for professional indemnity insurance is essential to secure the prudential safety of the insurance industry. APRA has denied any suggestion of profiteering by insurance companies. APRA head of enforcement Darryl Roberts said insurers were losing money on the professional indemnity product.

“For every $100 of premium received for professional indemnity insurance, the industry is paying out over $145 in claims and expenses,” he said.

“This level of underwriting loss is simply unsustainable and must be reversed if the insurance industry is to remain adequately capitalised into the future.”

Add your comment

BNIQ sponsored byECU School of Business and Law

Students

6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer