Why it matters: NIB holdings is one of the nation’s biggest health insurance providers.
CEO Mark Fitzgibbon says higher premium increases are coming.
It may further fuel inflationary pressures, with households already stretched thin.
But he says there is little chance of super-sized increases similar to home and car insurance.
Health insurers will have start lifting premiums at a much faster rate to stay ahead of higher claims, but NIB Holdings chief executive Mark Fitzgibbon says any price hike will be far lower than the huge 20 per cent increase to home and car insurance costs.
After NIB delayed its annual premium bump three separate times during the pandemic, customers will see their bills jump 2.72 per cent from September.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
