Will the pandemic recession bring a jump in underinsurance?
Melbourne Institute Research Insight No. 04/21
Date: 2021
Author(s):
Abstract
If the role of insurance is to help in times of unexpected need, what happens when Australians need to cancel their insurance in times of unexpected crisis? This Research Insight presents new findings from the 2015 Household Expenditure Survey. Because of the COVID-19 recession, Australians experiencing financial stress are cancelling their insurance, but our research shows this could have potentially dire outcomes.