Inflation and the implications for insurance

The Insurance Institute of Liverpool are delighted to host a webinar on the topic of inflation and the implications for insurance.

This session considers what affect increasing inflation has on business insurance – what clauses and cover issues brokers and insurers need to consider for various classes of cover.

Learning Objectives:

Be aware of the affect that inflation has on insurance

Know which covers help provide clients with protection against effects of inflation

Be able to identify claims issues caused by inflation

Topics Covered:

• General effect of inflation on insurance
• Solvency margins
• Rate increases
• How inflation causes sum insured/limit issues
• Underinsurance and average
• Policy limits – including inner limits
• Fair presentations
• Cover
• Declared value, index linking, adjustable limits, first loss on property /construction policies
• Declaration link on BI, suppliers’ extensions
• Motor - Market value
• Credit
• Claims issues
• Supply chain increasing costs, delays
• Reserving