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9/05/2023 10:57:37 AM

The insurance industry doesn't exist in a vacuum and there are some crazy things going on in economy and society right now including:

  1. Post Covid supply chain interruptions mean it's taking longer to rebuild, repair and replace buildings, cars & equipment leading to significantly higher 'loss of use' insurance claims.
  2. Once those structures or vehicles are repaired or replaced, they're being replaced at a significantly higher cost than before. Inflation has affected every facet of our lives and inflation tends to compound in the insurance industry. Here are just a few examples that have affected insurance claims:

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