"@madamswer; twenty people being paid on average $500k -...

"@madamswer; twenty people being paid on average $500k - matching our PM"

Well, they are your people.
As a long-term member, you are the owner of RACV, so you've effectively endorsed that remuneration.

Besides, not sure why the PM is a benchmark of anything; it's as arbitrary as say the executives running an august institution such as AustralianSuper (Hint: they earn four times what the RACV folk earn.)


"Read the other bits of the those reports - it's NOT about insurance it's about property developers, exclusive resorts for wealthy people paid for by normal members."

This is the pinnacle of comprehension failure.

You clearly did not read the other bits of the Annual Report, because if you did, you would have noticed that the biggest increase in the RACV's Revenue in 2023 was ....wait for it.... Revenue from the clubs and resorts (up a whopping 59%).

This huge increase dwarfs the increases in RACV's other sources of Revenue:



The income RACV earns from.... er... "exclusive resorts" is now the second-largest single source of income for RACV and its members; without that income, the organisation would run at a massive loss, so large that the place would most certainly go belly up within just a few short years.

So, no; not "exclusive resorts for wealthy people paid for by normal members".
Instead, it's actually income from wealthy people that is significantly subsidising member subscription charges, to the extent of underwriting the entire viability of the organisation.

You are even more financially illiterate than I thought.
Fully lobotomised level illiterate.



"You're addiction to $Feeding $Greed is noted!"

Lol. Priceless.

I'm defending a mutually owned collective organisation, where the profits are shared among the members who are the customers; it's hard to get more Socialist economic entities. And that's feeding greed.

Just goes to show how deluded you are.



"Facts speak for themselves - 26% in one year on a vehicles whose market value is $Thousands less, which hasn't been subject to any insurance claims etx ... that's PRICE GOUGING by executive paying themselves an average of $500,000 for doing very little real work."

Shape shifting masterclass.

Before you said that the reason for the increase in premiums was due to the increase in executive remuneration.

Yet that has been proven - by no less than the facts - to be false, and executive remuneration has not increased. Facts speak for themselves, remember.

So the executives of RACV earned about the same amount last year, and yet you were happy to be a member then.

Your hypocrisy and duplicity have been laid bare on this thread.

.