Chanticleer
Why your fancy fridge is pushing up insurance bills
The cost inflation that’s sent insurance premiums surging is starting to moderate. But Suncorp boss Steve Johnston says there are still pockets of stickiness in strange places.
Suncorp chief executive Steve Johnston had plumbing on his mind on Monday – inside his own business, and in the walls of Australia’s homes.
As every household knows only too well, insurance premiums continued to climb in the 2024 financial year – up 16.2 per cent for motor vehicles, and 10.3 per cent for homes – but Johnston says the cost of meeting claims is gradually moderating, in line with broader inflation.
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