Liability Insurance :: News
SHARE

Share this news item!

ACCC Raises Concerns Over IAG's Acquisition of RAC Insurance

Potential Impact on Competition in Western Australia's Insurance Sector

ACCC Raises Concerns Over IAG's Acquisition of RAC Insurance?w=400
The Australian Competition and Consumer Commission (ACCC) has expressed significant concerns regarding Insurance Australia Group's (IAG) proposed acquisition of the Royal Automobile Club of Western Australia's (RAC) insurance business.
The deal, valued at approximately A$1.35 billion (US$877 million), aims to expand IAG's presence in the Western Australian insurance market.

The ACCC's primary apprehension centers on the potential reduction in competition within the state's motor and home insurance sectors. The regulator warns that the consolidation could lead to higher premiums and diminished service quality for consumers. Additionally, there is concern that IAG might restrict competitors' access to cost-effective repair services, thereby increasing operational costs for rival insurers.

IAG has acknowledged the ACCC's concerns and has committed to engaging with the regulator to address these issues. The acquisition, announced in May 2025, is part of IAG's broader strategy to strengthen its market position in Western Australia.

For tradespeople and small business owners in the region, this development is particularly pertinent. A decrease in competition could result in higher insurance costs, impacting the affordability and availability of essential coverage. It's crucial for those in the trades sector to stay informed about these changes and consider how they might affect their insurance options and overall business expenses.

Published:Sunday, 5th Oct 2025
Source: Paige Estritori

Share this news item:

Insurance News

Life Insurance Sector to Develop New Mental Health Claims Framework
Life Insurance Sector to Develop New Mental Health Claims Framework
21 Oct 2025: Paige Estritori
A significant update is on the horizon for mental health claims within the Australian life insurance sector. The Council of Australian Life Insurers (CALI) has announced the creation of a new assessment framework. This move will be developed in collaboration with consumer advocates, medical specialists, and other key stakeholders. The forthcoming plan aims to establish minimum standards for evaluating claims, ensuring that they are based on consistent and evidence-based criteria. - read more
WFI and AgCarE Join Forces to Reward Sustainable Farming Practices
WFI and AgCarE Join Forces to Reward Sustainable Farming Practices
21 Oct 2025: Paige Estritori
In a significant move towards promoting sustainable agriculture, WFI Insurance has partnered with AgCarE, a certification program developed by AgForce, to offer premium reductions to farmers who achieve AgCarE certification. This collaboration aims to enhance financial, environmental, and social outcomes for Australian farmers and rural communities. - read more
Rising Insurance Costs Challenge Australian Farmers as Extreme Weather Intensifies
Rising Insurance Costs Challenge Australian Farmers as Extreme Weather Intensifies
21 Oct 2025: Paige Estritori
Australian farmers are confronting a significant surge in insurance premiums, a trend largely attributed to the increasing frequency and severity of extreme weather events. Over the past few years, many farmers have reported that their insurance bills have more than doubled, with annual premiums exceeding $100,000. - read more
Diversifying Small Farms Open New Avenues for Insurance Brokers
Diversifying Small Farms Open New Avenues for Insurance Brokers
21 Oct 2025: Paige Estritori
The landscape of Australian agriculture is evolving as small commercial farms increasingly diversify their operations to enhance income and sustainability. This shift presents both challenges and opportunities for insurance brokers, as new ventures introduce complex risk management needs. - read more


Business Insurance Articles

Professional Indemnity vs Public Liability: What's the Best Choice for Your Small Business?
Professional Indemnity vs Public Liability: What's the Best Choice for Your Small Business?
As a small business owner, understanding the intricacies of liability insurance is pivotal to safeguarding the fruit of your hard work. Insurances such as professional indemnity and public liability are not just safety nets; they are vital components that can mean the difference between bouncing back and closing down following unforeseen legal hurdles. - read more
The Essential Guide to Liability Insurance for Freelancers
The Essential Guide to Liability Insurance for Freelancers
Liability insurance is a type of coverage designed to protect you from claims arising out of injuries or damages to other people or property. For freelancers, who often juggle multiple projects and clients, liability insurance can offer a safety net that reduces financial risk and instability. - read more
How to Choose the Right Public Liability Insurance for Your Business
How to Choose the Right Public Liability Insurance for Your Business
Public liability insurance is a key consideration for business owners in Australia. This type of insurance helps protect businesses against claims made by third parties for injuries or property damage. But what exactly does it do? In simple terms, public liability insurance covers legal costs and expenses, as well as any damages awarded, if your business is found liable for an incident. - read more
The Impact of Environmental Liability on Australian Business Operations
The Impact of Environmental Liability on Australian Business Operations
In today's ever-evolving business landscape, the significance of environmental sustainability and legal accountability is increasingly paramount. Australian enterprises, in particular, are encountering a growing need to understand and manage environmental liability. This reality not only influences corporate image but also carries substantial financial and legal ramifications. - read more


Start Here !
Your free liability insurance quote comparison starts here!
Cover Amount:
Postcode:

All quotes are provided free and without obligation. We respect your privacy.

Knowledgebase
Double Indemnity:
A clause or provision in a life insurance policy that doubles the payout in cases of accidental death.