Alexander Forbes: Premiums will not be going up

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As the short-term insurance industry struggles to contain costs amid rand depreciation and bad weather which has sent claims rocketing, Alexander Forbes Insurance will not be increasing premiums this year. It offers motor, home and business insurance which targets small to medium-sized firms with up to R90 million of assets. Managing director Gari Dombo said from 2011 to 2013, it had experienced a 75 percent increase in weather-related claims. PwC said the industry incurred R2 billion in losses in 2012. – Londiwe Buthelezi

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