and I thought low risk compulsory insurance was a fat cash cow...
suppose it will allow WBC to 'diversify' blame to those nasty foreign controlled LMI insurers, when/if more loan apps get knocked back.
Why would WBC stop self insuring if there was reasonable risk adjusted rewards in it?
There's only two ways to interpret this:
1. rewards are being eroded by foreign insurers.
2. risk is expected to grow.
Now why would WBC think risk will grow?
