Industry Structure and Main Competitors
Private health insurance in Australia is heavily regulated to protect consumers. Prudential supervision is undertaken by PHIAC to ensure the funds remain solvent. PHIAC also publishes extensive statistics on the industry and annual financial statement for individual health funds to provide full transparency for stakeholders.
The pricing and features of health insurance products is regulated by the Dept. of Health and Ageing.
To inform consumers, the Private Health Insurance Ombudsman operates a website to explain private health insurance and provide a standardised basis to compare health fund products.
Read more about this topic: Medibank Private
Famous quotes containing the words industry, structure and/or main:
“The reason American cars don’t sell anymore is that they have forgotten how to design the American Dream. What does it matter if you buy a car today or six months from now, because cars are not beautiful. That’s why the American auto industry is in trouble: no design, no desire.”
—Karl Lagerfeld (b. 1938)
“I really do inhabit a system in which words are capable of shaking the entire structure of government, where words can prove mightier than ten military divisions.”
—Václav Havel (b. 1936)
“Sinclair Lewis is the perfect example of the false sense of time of the newspaper world.... [ellipsis in source] He was always dominated by an artificial time when he wrote Main Street.... He did not create actual human beings at any time. That is what makes it newspaper. Sinclair Lewis is the typical newspaperman and everything he says is newspaper. The difference between a thinker and a newspaperman is that a thinker enters right into things, a newspaperman is superficial.”
—Gertrude Stein (1874–1946)