The Australian Competition and Consumer Commission has extended a deadline for deciding if IAG’s proposed takeover of RAC Insurance meets a public benefit test.

The regulator’s website says the 15-business-day extension follows the remedy offer put forward by the parties and a decision is now due by February 1.

IAG has proposed selling its NRMA Insurance home and motor portfolio renewal rights in WA and investing $20 million in resilience initiatives.

The company will make RAC home products available in the state’s north – including Karratha, Port Hedland and Broome, where insurance can be hard to access – and is proposing further commitments and accountabilities on product pricing and competitiveness.

The ACCC has already received feedback on the proposals through a public benefit questionnaire.