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International

Property insurance rates falling in Canterbury

May 07, 2015 Reprints

Commercial property insurance premiums are decreasing in New Zealand's Canterbury region, Stuff.co.nz reports.

Selling insurance is a lot easier these days, said Lindsay Kerr, an official at IC Frith (NZ) Ltd., adding that "it has been pretty tough for the last few years."

Rates have fallen by about 25% since the earthquakes in the region except for pre 1935 buildings, said Ms. Kerr.

Currently, the average rate for brokers is 30 cents per $100 New Zealand of sum insured as opposed to 40 cents per $100 New Zealand following the quake.

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Property insurance rates falling in Canterbury

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