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Meat processors face rise in insurance premiums


Meat processors in Australia said that insurers have increased premiums for fire protection following two large abattoir fires in the country in the past 18 months, Beef Central reported citing sources. Fire damaged Australia-based Thomas Foods International Pty. Ltd.'s beef and sheep meat processing plant in Murray Bridge in January and the Swickers Kingaroy Bacon Factory Pty. Ltd.'s pork processing facility in November 2016. Others in the industry attributed the rise in premiums to global natural disasters which hit insurers' earnings rather than isolated local fire events.

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