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Simple fixes could help save Australian consumers from up to $3.6 billion in 'loyalty taxes'

  • Written by Allan Fels, Professorial Fellow, University of Melbourne
Simple fixes could help save Australian consumers from up to $3.6 billion in 'loyalty taxes'On average, customers renewing their insurance policy now pay 34% more than new customerswww.shutterstock.com

A “loyalty tax” occurs when discounts are offered to new customers while longer-term customers pay more. Often this involves increasing premiums at the first and subsequent renewals.

As the NSW government’s Insurance...

Read more: Simple fixes could help save Australian consumers from up to $3.6 billion in 'loyalty taxes'

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