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
On average, customers renewing their insurance policy now pay 34% more than new customerswww.shutterstock.comA “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...
