Q1 Claims Trends

The Macro Arena is Complex

The global economy, with inflation and supply chain concerns, along with the dynamic situation related to Ukraine and Russia, brings a level of complexity to current and new arising claims. Coverage and quantum issues are material in many lines of business, and the dynamic overlay of sanctions brings additional complexity, the full impact of which will not be known for some time.

COVID-19 Claims Remain in Focus

While very limited growth is observed in the numbers of COVID related claims being reported, there remains significant interest and focus on court decisions around the world. Such decisions relate to individual claims filed by individual policyholders but are viewed from the broader lens of precedent. The complex topic of COVID-related business interruption will remain an open item for some time.

The Talent War is Real

Claims expertise is in demand, and the much referenced talent war is as important in claims as in any other part of the industry. Talented professionals are moving between and across the various segments of the claims community – brokers, insurers, adjusters, third party administrators, law firms and others – as the realities of the post-pandemic work environment become established. Such movement has positives and negatives. From the client lens the concern relates to instability and inconsistency in case management.

More of the Same

Previous quarters’ Global Market Insights reports have called attention to the approach taken by external counsel on behalf of many insurers, and to the increasing number of ‘disputes’ between co-insurers on specific claims. These two factors continue to cause frustration for Aon and more importantly for clients. Aon continues to encourage insurers to engage in appropriate ways and recognizes those that do. Aon views the commentary provided on the approaches taken by specific insurers as a key part of the role we play as a firm in market selection and program design for clients.

Geographic Trends

Keep reading >