Tim Grafton: Insurance Council chief executive on the cost of insurance going up significantly over the past year - Heather du Plessis-Allan Drive

The cost of insurance is still stubbornly high, according to the latest data.

Figures released by Stats NZ show that inflation is going down, but insurance prices have skyrocketed between 12 and 20 percent in the past year.

Insurance Council chief executive Tim Grafton says construction inflation and 2023's significant natural disasters are to blame for these increased costs.

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