Why is my business premium going up?

Premiums are largely influenced by broad market trends that impact all customers – so called Social Inflation.

COVID-19 started the trend up as it spurred 1000s of workplace-related claims from layoffs and firings or employees asserting age or racial discrimination. Two years on the current recessionary environment is expected to lead to an increase in bankruptcies and related litigation, further pushing premiums higher as the cost to defend and the complexity of claims continues to rise.

Please do get in touch with us if you would like more information.