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Commissions paid to insurance brokers harm competition, Australian regulator says

By James Panichi ( May 20, 2025, 08:10 GMT | Insight) -- Insurance brokers are once again in the crosshairs of Australia’s antitrust regulator, which has used a submission to an independent review to accuse the sector of being rife with conflicts of interest that hurt consumers and affect the competitiveness of insurance markets. In a submission to a review of the 2022 Insurance Brokers Code of Practice, the Australian Competition & Consumer Commission said commissions and other benefits paid to brokers gave them “limited incentive” to find better deals for their customers.Insurance brokers are once again in the crosshairs of Australia’s antitrust regulator, which has used a submission to an independent review to accuse the sector of being rife with conflicts of interest that hurt consumers and affect the competitiveness of insurance markets....

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