Claims inflation and supply chain disruption unbalancing P&C market once more

5 July 2022

Insurers have worked hard with their clients for the past few years to right the imbalances in their portfolios. Now, everyone has to take a hard look at the books again, says Sharon van Herel, country manager for the Netherlands at HDI Global, in an interview with Commercial Risk Europe.

Just as capacity was returning to the market and risk managers were finding most insurances easier to sort, claims inflation and supply chain difficulties look set to unbalance things once more, warns Sharon van Herel, country manager for the Netherlands at HDI Global.

“Claims inflations is a real problem and we are seeing it in the numbers”, van Herel said. “Costs are simply going up, particularly in liability.”

At a point when risk managers were hoping for relief from rising premium prices, insurers are having to take a hard look at the books once more. “We want to remain a healthy insurer that can deliver for our clients, so we are engaging our clients in conversations to explain what is happening”, van Herel said.

Please read the full interview with Commercial Risk Europe in this PDF.