Microeconomic policy issue, normative and positive statement
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Microeconomic policy issue
A clear point has been made in the article that professional indemnity insurance premiums are raising dramatically. The Western Australia government is aiming at reducing insurance premiums by the introduction of proportionate liability.
The WA government has influenced the outcome of insurance premiums policy made by the insurance companies to ensure that premiums are best and reasonable for these insurers. If the premiums were only controlled at the hands of these insurance companies, it would bring a public liability crisis to these insurers. If this happens…
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