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Property premium rates to rise in Caribbean market

Posted On: Mar. 16, 2023 9:57 AM CST

According to the Insurance Association of Guyana, property insurance prices in the Caribbean market are on the rise as reinsurers push rate hikes ranging from 10% to 25%, Stabroek News reported. The association said that these increases will come with “absolute minimum rates for residential, light commercial, medium to heavy commercial and industrial risks.”