Public scepticism over insurer pricing and profit
The CSU survey reports widespread scepticism toward insurers’ pricing decisions. According to the results, three quarters of Australians believe insurance companies are “gouging their customers” and using extreme weather as a pretext for excessive premium increases. For insurance professionals, the findings suggest differences between how insurers price risk and how many policyholders perceive those changes. While insurers have been repricing portfolios to reflect hazard trends, reinsurance costs, and updated catastrophe models, the survey indicates that many policyholders view these changes through a fairness lens rather than a technical risk‑assessment lens. This disconnect is likely to feature in ongoing discussions about disclosure practices, regulatory oversight, and the design of shared‑risk arrangements, including possible levies, public reinsurance backstops, or targeted subsidies for high‑risk communities.