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AAP
AAP
Politics
Poppy Johnston

Insurance Council warns higher prices 'baked in'

Insurance costs are going up for everyone, with those in flood-prone areas copping steeper hikes. (Murray McCloskey/AAP PHOTOS)

Consumers can expect more subdued growth in their annual home insurance bills, though an industry expert warns elevated prices are now baked into the system.

Insurance Council of Australia chief executive officer Andrew Hall told the National Press Club insurance markets were facing a "perfect storm" of increasingly volatile weather, geopolitical instability and cybersecurity threats.

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