Extreme and destructive weather events are a common occurrence in northern Australia. The threat of seasonal storms, cyclonic activity and floods characterise daily living. For the small communities, towns and regional cities in northern Australia that are striving to grow and flourish, the affordability of home, contents and strata insurance is increasingly recognised as a major challenge to their liveability and prosperity.

Over the past three years, the ACCC has examined the markets for home, contents and strata insurance in northern Australia in a level of detail that had not been done by any review before. They have collected and analysed an extensive volume of documents and data from insurers, and consulted widely, including with industry, local residents, communities and consumer representative groups across northern Australia.

This report sets out in detail the ACCC's analysis of the operation of the markets for home, contents and strata insurance in northern Australia. Importantly, the commission makes wide-ranging recommendations to help address the problems that they have identified. Many of these recommendations could also benefit consumers and insurance markets nationally, if more broadly applied.

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