The price rises have been even higher in New Zealand, where IAG has a large market share. The premium jumps have contributed to IAG delaying a target, by potentially a year, of adding 1 million customers across the group by 2026.
Some insurers have lifted home cover prices by more than 10 per cent in the past two years, as the industry enters a “hardening” phase in its cycle. Prices have continued to spiral after last year’s record $5.9 billion in claims from east coast…
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