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ABC News
ABC News
Business

Extreme weather cost insurers almost $1bn in 2022, now small businesses face premium hikes

The future feels uncertain as Anna Baker contemplates if she will be able to afford insurance in future. (ABC Western Qld: Danielle Lancaster)

When Anna Baker's flood insurance premium jumped $13,000 in one year, she questioned if she should still be in business.

With extreme weather in Queensland costing insurers an estimated $800 million more than they collected in premiums in 2022, no doubt they thought the same.

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