IDEAS home Printed from https://ideas.repec.org/p/dkn/acctwp/aef_2005_20.html
   My bibliography  Save this paper

The Public Liability Crisis - Why Did It Occur and How Has It Been Resolved?

Author

Abstract

This paper examines the cause and effect of the Public Liability crisis that emerged in the Insurance industry in Australia in 2000. It establishes the principal cause as inadequate premiums being charged by insurers in the preceding years combined with a rise in the cost of personal injury claims. In response to the crisis a range of initiatives were introduced, principally by the Commonwealth government, which are designed to assist the future predictability of losses and produce a more stable Public Liability insurance market. The full benefit of these initiatives will take some years to take effect but it would appear that the ultimate result will be a market that is charging substantially increased premiums from those applying in the 90's and a continuing difficulty for some industries to obtain cover.

Suggested Citation

  • Tom McDonald, 2005. "The Public Liability Crisis - Why Did It Occur and How Has It Been Resolved?," Working Papers 2005_20, Deakin University, Department of Economics.
  • Handle: RePEc:dkn:acctwp:aef_2005_20
    as

    Download full text from publisher

    File URL: http://www.deakin.edu.au/buslaw/aef/workingpapers/papers/2005_20.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:dkn:acctwp:aef_2005_20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Xueli Tang (email available below). General contact details of provider: https://edirc.repec.org/data/sedeaau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.