Insurance companies make the rules

Wednesday, February 2nd, 2011

Insurance companies make the rules The Australian 1st February 2011

By Fiona Guthrie (Executive Director of the Australian Financial Counselling and Credit Reform Association)

What is it with the insurance industry? when the banks increased interest rates above the reserve bank cash rate a few months ago, the government response was savage.

The banking industry was public enemy No 1.. Wayne Swan called bankers greedy bastards, or words to that effect. The Senate announced an inquiry into banking competition and Swan released a wide-ranging reform package. Read article.