Opposition leader says more competition needed as growing numbers unable to afford home and car insurance

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The opposition leader, Peter Dutton, says the Coalition could seek to break up insurance companies found to be gouging policyholders and more competition is needed in the sector.

In an interview with Sky News on Sunday, Dutton said the Coalition’s divestiture policy – which threatens to carve apart big supermarkets and hardware chains as a “last resort” to combat price rip-offs – could also be applied to big insurers.