The Australian Competition and Consumer Commission (ACCC) on Sept. 23 ordered Insurance Australia Group Ltd. (ASX: IAG) not to proceed with its proposed acquisition of RAC Insurance (RACI), concluding after an in-depth Phase 2 assessment that the deal would substantially lessen competition in motor vehicle insurance and home and contents insurance in Western Australia. IAG […]
Australia Association Warns Insurer Acquisitions Threaten Competition
The Motor Trades Association of Australia (MTAA) said September 18 it supports regulators’ concerns about consolidation in the motor insurance market but opposes a pending acquisition that would further reduce competition. The MTAA warned the Australian Competition and Consumer Commission against approving Insurance Australia Group Limited’s (ASX: IAG) proposed acquisition of RAC Insurance Pty Limited […]
Australia Releases Paper Outlining Mandatory OEM Service and Repair Information Sharing Proposal
Independent repair associations concerned about language on possible exclusions and lack of penalties for non-compliance. Australia’s Federal Government released its consultation paper that proposes key elements of a mandatory program for the sharing of vehicle service and repair information, including the establishment of a Service and Repair Information Sharing Advisory Committee. In 2017, the Australian […]