Australian insurance industry experts expect the rate increase to continue through 2023.
Several factors are believed to be contributing to the on-going high insurance prices, including inflation, supply chain [4] disruptions and the recent flooding in Queensland and New South Wales.
The "low risk" will benefit from a moderate premium rate increase.
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-192-june-2022
[4] https://www.atlas-mag.net/en/article/what-is-supply-chain