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Inflation Not Behind Insurance Premium Hikes: Broker Network CEO

Steadfast Group CEO Robert Kelly said the surge in insurance claims was behind the sharp rise in insurance prices in recent years.
Inflation Not Behind Insurance Premium Hikes: Broker Network CEO
A person uses sandbags to protect a store from floodwater in Rochester, Australia, on Jan. 9, 2024. Diego Fedele/Getty Images
Alfred Bui
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The CEO of a major insurance broker network has said inflation was not the driver behind the recent surge in insurance premiums across Australia.

During an inquiry hearing on Oct. 9, members of a Senate Committee questioned Steadfast Group CEO Robert Kelly about the rise in insurance unaffordability since 2019, which was higher than the inflation growth.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
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