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Insurance rates grow in line with increasing rainfall

Posted On: Sep. 20, 2022 9:58 AM CST

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A report by data analytics firm Decision Inc. Australia showed that insurance premiums have continued to rise in tandem with increasing rainfall since 2019 in Australia, Smart Company reported. The report says severe rains and floods have continued to affect Australia since 2019 amid La Nina weather conditions, which is expected to continue this year too thereby increasing the probability of further insurance rate hikes for small businesses.