1. ReportLinker Data
  2. Automotive
  3. Auto Services
  4. Auto Insurance
  5. Motor Vehicle Insurance …
  6. Average Premium per Risk…

Average premium per risk of commercial motor vehicle insurance in Australia: Raise in 2Q 2017

Australian Regulation Prudential Authority reported that motor vehicle insurance gross written premium greatly increased by 52.49 percent in comparison to Q1 2017. Motor vehicle insurance gross written premium climbed strongly by 569 Australian Dollar, contrarily to the previous quarter when it went down by 15.05 percent. When looking at 2017, it can be observed that the indicator was growing by 44.64% and established 1 578 Australian Dollar. This illustrates a 4.75% shift between Q2 2016 and the same quarter in 2017. Australia saw a increase of 16.49% in motor vehicle insurance gross written premium over the past 4 years. Compared with its average, the motor vehicle insurance gross written premium is now higher as the mean equals 1 404.5 Australian Dollar with a modest overall diminution since the start of time series. It reached its all-time high of 1 719 Australian Dollar in 2Q 2014 and record low of 1 084 Australian Dollar in Q1 of 2017.

Average premium per risk of commercial motor vehicle insurance in Australia: Raise in 2Q 2017
Date Australian Dollar Variation
Q2 2017 1 653.00 52.49
Q1 2017 1 084.00 -15.05
Q4 2016 1 276.00 -13.2
Q3 2016 1 470.00 -6.84
Q2 2016 1 578.00 44.64
Q1 2016 1 091.00 -17.85
Q4 2015 1 328.00 7.27
Q3 2015 1 238.00 -24.7
Q2 2015 1 644.00 29.55
Q1 2015 1 269.00 -16.35

Related Statistics

Motor Vehicle Insurance Gross Written Premium in other Countries

Main Auto Insurance Indicators

  • Road Casualties

  • Transportation Fatalities

  • Motor Vehicle Insurance Gross Written Premium

    Total premium on insurance underwritten by an motor vehicle insurer or reinsurer during a specified period, before deduction of reinsurance premium. It is the sum of the direct and assumed premium written and represents an indicator of the importance of the motor vehicle insurance industry in a given country. Usually measured in millions or billions of national currency. Motor vehicle insurance means insurance against the loss of, the loss of use of, or damage to a vehicle. Depending on the policy, it can also include coverage for bodily injury incurred through ownership or operation of a vehicle. Based on: US National Association of Insurance Commissioners.

  • Motor Vehicle Insurance Claims

    Requests made by the insured for insurer remittance of payment due to loss incurred and covered under the motor vehicle insurance policy agreement, usually expressed in millions or billions of national currency. Motor vehicle insurance means insurance against the loss of, the loss of use of, or damage to a vehicle. Depending on the policy, it can also include coverage for bodily injury incurred through ownership or operation of a vehicle. Based on: US National Association of Insurance Commissioners.