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Insurance rate hikes to slow, but market remains challenging

Posted On: Dec. 8, 2022 9:12 AM CST

According to U.S.-based insurance broker Arthur J. Gallagher & Co., premiums rates will continue to increase across most insurance lines in Australia in 2023 albeit at a much slower rate than this year, Asia Insurance Review reported. The rate hikes will vary depending on the business size, sector, cyber security maturity and risk vulnerability.