Commercial Motor Vehicle Insurance in Australia Industry Market Research Report Now Available from IBISWorld
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Steady growth in premium revenue provided a level of stability for the
Strong demand for road transport has fuelled the need for commercial motor vehicle insurance over the past five years. This trend is expected to continue as industry operators rely on commercial vehicles to transport people and products. "In an effort to reach this growing client base directly, some players have expanded online sales platforms," says Gargano. This trend - particularly prevalent when insuring low-weight vehicles - has allowed operators to capture clients directly and avoid broker fees. For heavy haulage or large fleets, brokers remain the prevailing avenue for sales, with premiums being much larger for these vehicles. However, ongoing efforts to improve vehicle safety have allowed insurers to provide more competitive costs per risk, particularly where operators can demonstrate safer practices. This is expected to become more significant over the next five years, as operators seek to tailor insurance packages to meet the specific needs of clients.
The
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This industry provides insurance for vehicles used for business purposes. These include vehicles such as trucks, vans, trailers, ambulances and buses.
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IBISWorld Industry Report Key Topics
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
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