further to the submission below, I suggest that each insurer for common insurances like home 
and motor be required to use a prescribed basic policy wording.
this will encourage price competition for the recommended price comparison websites.
the suggestion is like standard policy wordings for compulsory third party and workers’ 
compensation.
it is also like the simple My Super product for superannuation.
this suggestion would replace standard cover under the Insurance Contracts Act which insurers 
through disclosure can replace.
insurers should still be able to offer policies with better features for a higher price.
again this submission is my personal view and not on behalf of any past or present employer.
 
Regards

Duncan Ramsay