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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.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms