Hi All,

The ACCC released it's 2nd report on 20th December. I am still working through the 334 pages. However, it seems they have rejected the Mutual and the Reinsurance Pool ideas and are more in favour of direct subsidies based on income and premium amount.

It is interesting to see the ways in which they have tried to define "affordable".

Also interesting is the submission by Picnic, a new company trying to get a licence to enter the insurance industry. I understand they are looking at the strata market and have been waiting more than 2 years. The APRA are reported in the report as saying a licence normally takes between 3 and 12 months.... so what's happening with Picnic?

When I've read the whole thing and worked out what it is saying, I'll send an update. Otherwise you can just search for "Conclusions" and leave out the detail in between sections.

Happy New Year

Margaret