Business Cutting Back on Insurance

business-insurers

Insurance Australia Group chief executive Mike Wilkins has told businessday.com.au that Australian companies are seeking lower premiums or are cutting cover, in what IAG see as sign of softning economic conditons.

”People are just very conscious of their expenses and I know for some businesses it’s tough,” Mr Wilkins said

QBE, IAG and Suncorp – last week signalled softer rates of domestic growth in revenue from insurance premiums in the year to come.

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