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The nature and development of the general insurance industry in Australia to 1973
journal contribution
posted on 2007-11-01, 00:00 authored by Monica KeneleyMonica Keneley, T McDonaldThe development of the insurance industry in Australia in the twentieth century was fundamentally shaped by a collusive code of conduct called the tariff. This arrangement, established to overcome problems of uncertainty, initially benefited both tariff and non-tariff firms by enhancing market stability. It also reduced competition. The collusive agreements gradually broke down, however, as new entrants and products entered the market in the 1950s. Self-regulation gradually gave way as the 'rules of the game' changed. The result was a period of instability before new competitive practices, and more direct and specific regulatory requirements emerged in the 1970s.
History
Journal
Australian economic history reviewVolume
47Issue
3Pagination
278 - 299Publisher
Blackwell Publishing AsiaLocation
Melbourne, Vic.Publisher DOI
ISSN
0004-8992eISSN
1467-8446Language
engPublication classification
C1 Refereed article in a scholarly journalCopyright notice
2007, The AuthorsUsage metrics
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