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International

Rates surge in as insurers seek to limit exposure

December 19, 2018 Reprints

A report by the Australian Competition and Consumer Commission found that insurance rates have surged 130% in Northern Australia compared with a 50% rise in the rest of the country between 2008 and 2018, Asia Insurance Review reported. The report found that insurers are likely to face more extreme weather-related losses in the region and have increased premium rates to limit their exposure.

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Rates surge in as insurers seek to limit exposure

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