With the Bank of England warning inflation might reach 10% within months and interest rates rising, it is anticipated that this, along with other world events, will continue causing problems for the commercial motor insurance market.
As demand for the supply and distribution of materials across the globe rises, this inevitably pushes up prices and can cause significant disruption within supply chains. Obtaining vehicle parts and hire cars are no exception and, as a result, vehicle repair and claims costs have risen drastically, which could ultimately affect clients’ future premiums.
DCL, partnering with brokers, can help tackle the above issues head on and provide a more optimistic outlook for clients. While inflation itself isn’t fixed or predictable, there are a few things brokers can do to try and maintain some stability when looking after their clients and to ensure that you retain (and win) business during these turbulent times. Read our full article on YouTalk-Insurance here.