Having warned previously that inflationary factors will result in elevated property insurance claims, global reinsurance firm Swiss Re has now qualified this by saying that the inflationary effect of higher materials and construction prices may only last through this year.
As we reported recently, Swiss Re had said that insurance and reinsurance firms will face increased indemnity costs after land-falling hurricanes in the United States in 2021, as inflationary factors are set to drive claims amounts higher.
