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Bank of England warns insurers of solvency risks amid inflation

Posted On: Oct. 25, 2022 9:49 AM CST

Solvency risk

The Bank of England warned general insurers that the spike in insurance claims cost inflation may deteriorate solvency coverage for some carriers unless they implement adequate measures to mitigate the impact, Reinsurance News reported. According to the Bank of England, high claims inflation would affect every general insurer, but the impact would differ based on the line of business and geography.