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Insurers struggle to restore profitability despite hardening rates

hardening market

Australian actuarial consulting firm Taylor Fry Pty. Ltd. said that insurers are struggling to increase insurance rates to the level required to restore profitability, despite hardening of the commercial property insurance market, Asia Insurance Review reported. Insurers are also being more selective, with perceived poorer risks being singled out for larger premium increases, Taylor Fry said.

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