Insurers must improve customer outcomes or risk loss of confidence

By 14th November 2022 News, Russia-Ukraine Conflict

We are undoubtedly in a period of prolonged crisis. Now more than ever businesses across the world are looking to the insurance market to limit and recover their losses.

But for an industry already rocked by a series of unprecedented crisis events, resulting in one of the toughest markets in insurance history, delivering on the promise to safeguard these organisations is proving challenging.

Mactavish’s own business resilience survey found that 90 per cent of companies expect the Russia/Ukraine war to impact the resilience of their business, while 77 per cent of businesses have already been forced to make changes around their supply chain as a consequence of the conflict.

Despite support for UK households in the former chancellor’s recent ill-fated “mini” Budget, businesses still remain in the dark, exacerbated by policy U-turns and worrying forecasts.

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