Aug 03
1 Answer Network is urging consumers to put their faith in local brokers to find the best insurance deals, as a hardening general insurance market sees higher premiums and reduced benefits.
Insurers now need greater capital adequacy but are facing lower investment returns and a high incidence of claims, in some areas of the market.
The Network is therefore predicting that premiums will rise, benefits will be reduced, excesses raised and extras in insurance packages thinned out.
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