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ARTICLE · 17 SEPTEMBER 2026

ASIC Puts Motor Vehicle Premium Transparency Under The Spotlight

Gilchrist Connell
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ASIC's Report 838 reveals significant transparency gaps in motor vehicle insurance premium communications, finding that renewal documents often fail to explain price changes adequately and that over 30% of consumers who contacted their insurer successfully negotiated lower premiums. The report establishes clear expectations for better practice in pricing disclosures and signals continued regulatory scrutiny of insurance pricing practices.

AustraliaInsurance
Leah Watt
Leah Watt
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ASIC’s Report 838, Road testing transparency in car insurance premiums, identifies material gaps between the information consumers receive and the information ASIC considers it needs to understand, compare and question premium outcomes. The report provides a clear indication of ASIC’s ongoing supervisory focus on insurance pricing and the practices likely to attract regulatory scrutiny.

The review was conducted against the backdrop of:

  • an average 8% increase in motor vehicle insurance premiums during the 2024–25 financial year, and an increase of more than 42% in the average cost of comprehensive cover between 2019 and 2024; and
  • ASIC and AFCA complaints data showing that general insurance being the most complained-about product category in ASIC’s internal dispute resolution data, with 56% of those complaints relating to comprehensive motor vehicle insurance. AFCA data separately showed motor vehicle insurance accounted for 33.81% of general insurance complaints between 1 July

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