Covéa share how claims inflation is a hot topic within the industry and particularly with our broking community. Since the pandemic in 2020, several factors have influenced the cost of claims which has had a knock-on impact on insurance premiums. The cost of living has sharply risen with the impact of both Covid-19 and Brexit. Factors such as supply chain disruption, climate change, labour shortages etc. are all having an impact on the cost of insurance claims and the rise in premiums with claims inflation estimated to hit 10%.
What is "Claims inflation"?
"Claims . . .
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