We have seen a great deal in the press about the immediate impact of Covid-19 on the insurance claims landscape, including motor and credit hire. BLM’s head of catastrophic injury, Andrew Hibbert, believes there are a number of things the insurance industry should start thinking about now in relation to the impact on catastrophic injury claims, which he highlights in this blog in Insurance Post.
"When assessing the claimant’s position ‘but for’ the accident to deliver 100% compensation, that position now has to reflect Covid-19, and its effect on health and the economy, and how that would ultimately affect the claimant. Every claim now should be reconsidered with this in mind. Settlement offers and reserves, where prudent to do so, may need adjustment..."
Read more here (subscription required).