Printed from

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

Posted On: Mar. 24, 2023 9:50 AM CST

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.