The Covid-19 pandemic may be boosting income opportunities for credit hire firms – accumulatively, this could end up being a big financial hit for insurers
Credit hire is “still a big issue” that is “coming back with something of a vengeance at the moment”, according to Ian Davies, partner and head of motor at law firm Kennedys.
Davies suggests that credit hire organisations are using the ongoing Covid-19 pandemic to reap further income opportunities, for example around additional cleaning costs. He adds that “challenging cases” linked to the national lockdown are also beginning to be more prevalent.
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