Peter Dutton is seeking to boost voter support by taking on the big insurance companies who he claims are ripping off consumers. 

He has already taken a stance against other big companies that wield a lot of market power and generate high prices for consumers because of little competition. He showed tough views on Coles and Woolworths, supporting the current Government’s threats to make the supermarkets get rid of some of their businesses to increase competition and generate lower prices. 

Peter Dutton has joined others to claim that the Insurers are overcharging consumers. 

The AFR’s Tom McIlroy points out that “insurance premiums have surged in the past year, with Australian Bureau of Statistics data showing a 16.4% rise, the highest rate in three decades”.

The surge in inflation after the COVID lockdowns coincided with fantastic profits for many big businesses that don’t have real competition and it does raise the question of whether we need more government monitoring of pricing and profits of businesses like insurers, power companies, airlines, and businesses who face little competition.

A crusade against Insurance companies may prove a vote winner where once on the job Peter Dutton would need to instruct the ACCC to play harder with the Insurance companies.