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ACCC finds northern Australian insurance costs soaring, recommends industry regulation By Jane Bardon Sue Shearer says the cost of insuring her Darwin home has steadily risen for years.(ABC News: Jane Bardon) Like many northern Australians, Sue Shearer has watched the cost of her home and contents insurance soar with dismay. Key points: An ACCC inquiry has found more and more people in northern Australia are going without insurance The watchdog says average home insurance premiums in the region rose by 178 per cent over a decade Its report has recommended a series of regulations to make the industry more consumer friendly

"It just keeps going up and up. It's exorbitant actually," she said.

Yearly building insurance price hikes have pushed up her body corporate fees, in a unit complex where many of the residents are pensioners or self-funded retirees.

Ms S…

Australians urged to check superannuation balances amid severe insurance premium increases

Australians have been warned to check their superannuation balances after severe increases in insurance premiums come into effect by the end of the year.

Funds have blamed government legislation designed to sweep away inequities in the super system for the increases in premiums, which can range from double-digit increases on death and disability cover to more than 60% for income protection insurance in some schemes.

But with millions of workers not regularly checking their super accounts for new fees and charges, consumer advocates have warned that people could be paying for expensive cover that they do not want or need.

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