Early notification ‘key’ to avoid increasing property damage claims costs
Insurers could see higher claims costs and longer claims lifecycles as inflation creeps into the casualty and liability space, but educating policyholders on importance of early notification is ‘key’.
Consumer price index inflation over the last 12 months has reached around 10% with repair costs estimated to be up 30%. And while both CPI and claims inflation was climbing from the beginning of this
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