AMA had faced a pinch since 2020 partly as costs of repairs and fixing times blew out across industry, yet it was stuck in fixed-price contracts.
Its key customer was Suncorp after AMA bought the insurer’s lower-level damage business Capital Smart in 2019 for $420 million. A three-year contract expired and talks dragged on until Friday’s announcement, which AMA said included annual repricing possibilities incorporating industry inflation pressures.
If any “significant…
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