The bleak future of private health insurance
Geoff Summerhayes speaks of the Australian Prudential Regulation Authority's 'growing concern'
The private health insurance industry in Australia is wobbling. To some of its harshest critics, it is in a death spiral.
Here, Geoff Summerhayes — a board member of the Australian Prudential Regulation Authority (APRA), the independent government agency responsible for regulating insurers — warns such claims are no exaggeration, predicting that, without reform in the near future, some insurers face merger, while others will go to the wall.