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International

Insurers raise rates as claims costs, inflation climb

February 24, 2022 Reprints

A report by insurance broker Crombie Lockwood (NZ) Ltd. showed that pricing in the New Zealand insurance market remains firm as insurers raise rates amid inflation and growing claims costs, Asia Insurance Review reported. Insurers and reinsurers are revaluating commercial properties exposed to climate-change related weather disasters, fire and other such risks, especially in Wellington.

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Insurers raise rates as claims costs, inflation climb

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