Why car insurance premiums have gone up almost 50 per cent

Car insurance in Australia has leapt by nearly 50 per cent in the last six years and this week, the financial regulator blasted insurers for failing to adequately explain to customers why they have jacked up prices by so much. So what's behind the spike in premiums? Insurers talk about the cost of repairing cars these days and global volatility, but there's plenty of evidence that companies will…