In-depth - claims: Trends and changes
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Covid-19 has had a significant effect on claims in the commercial insurance space
As lockdown forced many businesses to switch to home working or to close altogether, the insurance sector had to adapt to a completely different set of risks.
Whether furloughed or working remotely, with most people at home, claims volumes across many commercial lines dropped. “We saw a 20% downturn in the volume of commercial claims during the first lockdown,” says Peter Farrelly, managing director, commercial claims services at Sedgwick. “No one was at work or on the roads, so there were
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