Market conditions & premium increases

The insurance market has experienced significant changes and challenges in recent times. The COVID-19 pandemic has led to increased uncertainty and risk, resulting in premium increases across various insurance lines. insurers have had to reassess their risk appetite and pricing strategies, leading to an increase in premiums for many businesses. Additionally, severe weather events in Australia, have caused substantial property damage, resulting in increased claims and further impacting the market conditions.

Disclaimer:

The information and advice provided by Broad Risk Insurance Brokers is general in nature and does not take into account your individual objectives, financial situation, or needs. You should consider whether the advice is appropriate for you and read the relevant Product Disclosure Statement (PDS), policy wording, and Target Market Determination (TMD) before making any decision about purchasing, renewing, or cancelling an insurance policy. If you require personalised advice that considers your specific circumstances, we recommend speaking with one of our qualified insurance brokers. For more information, please contact us at warren@broadrisk.com.au or visit our website at https://www.broadrisk.com.au