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Around 19% of SMEs reduce cover as rates rise: Survey

Market conditions

A survey by German insurer Allianz SE's division Allianz Commercial found that 19% of small and medium businesses have cut their insurance cover in the past 12 months due to increasing cost pressures, Marketscreener reported. Furthermore, a similar number of businesses plan to reduce their cover in the coming year, which would increase the risk of underinsurance significantly.



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