While there has been recent industry discussion pointing to how insurance premiums might harden, current data is showing hardly any change in the actual rates. More stringent criteria as it applies to underwriting, prices going up, too much capacity, and higher levels of profitability have all led to prices remaining stable. Some insurance industry observers are not confident insurers would be in a good position to raise prices on small businesses anytime soon. Comments are shifting to predict strong competition within the insurance industry will keep premiums from going up.
Read more: SME Insurance premiums remain steady
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