Monday 17 March 2014

Insurance premiums set to keep climbing

There is a warning that insurance premiums could continue to rise.

The Insurance Council's annual review has made the prediction, citing a combination of the fallout from the Canterbury earthquakes, a Fire Service levy, and policies from the Reserve Bank.

CEO Tim Grafton says they have previously underestimated the cost of catastrophes so now customers are being asked to pay the true price.

"Combined loss ratios for insurers; there hasn't been a lot of margin there at all."




Source NZ.News.Yahoo

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