Hawkins highlighted that while inflation has impacted both insurers and policyholders, the future appears more favourable, with inflationary pressures expected to diminish over the next six to twelve months. However, he noted that premiums would likely increase in line with inflation, reflecting ongoing challenges in the insurance market.
For tradespeople, this trend underscores the importance of regularly reviewing insurance policies to ensure they remain cost-effective and provide adequate coverage. Staying informed about market developments and exploring competitive options can help mitigate the impact of rising premiums on business operations.
