insurance

Many business owners often grapple with insurance premium increases without taking time to understand what leads insurers to hike premiums. Malesela Maupa, Head of Insurer Relationships at FNB Insurance Brokers, says understanding some of the common factors that impact the price of premiums can help businesses plan ahead for unavoidable increases when drawing up their budgets. Maupa unpacks five reasons why insurance premiums have doubled over the past five years: Claims frequency and severity – There has been a substantial increase in the frequency and severity of losses in the past five years, which has had a huge impact on risk underwriting and insurance premiums. Insurers operateRead More →