Like the cost of living, claims inflation is driven by prices. So, when the cost of repairs, materials and labour rises, so does the cost of third party liability for property damage. Inflation also pushes up settlements and damages awarded.
To help you and your clients understand these issues and their implications, we've put together a practical guide, which covers:
- what's driving costs
- what we're doing to control costs
- what customers can do to protect themselves.