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Average premium per risk of commercial motor vehicle insurance in Australia climbs in Q2 of 2017

In 2nd quarter 2017 the variable increased strongly by 52.49 percent, according to new data released by Australian Regulation Prudential Authority. Motor vehicle insurance gross written premium grew sharply by 569 Australian Dollar, versus the previous quarter when it went down by 15.05%. In Q2 2016, the indicator went up by 44.64 percent and reached 1 578 Australian Dollar. When taking into account the year-on-year picture, a 4.75 percent rise can be announced between Q2 2016 and Q2 of the year after. The overall changes for the prior 4 years attained a raise of 16.49%. Besides, the motor vehicle insurance gross written premium is now above average of 1 404.5 Australian Dollar with a slight overall decrease since the start of observations. It hit its all-time high of 1 719 Australian Dollar in Q2 of 2014 and record low of 1 084 Australian Dollar in Q1 of 2017.

Average premium per risk of commercial motor vehicle insurance in Australia climbs in Q2 of 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

  • 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.