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Cambodia: Seven insurers agree on floor rate for fire premiums

May 12, 2014 - 6:00am

The Insurance Association of Cambodia has said that seven insurers have decided on a floor rate for fire insurance premiums in an attempt to avoid any pricing problems arising from competition in the market, reports The Cambodia Daily.

Fire insurance is the biggest revenue generator in Cambodia's insurance sector.

The new floor rate, to be introduced on July 1, will be implemented for properties valued at more than $10 million, The Cambodia Daily reported.

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