Are your insurance premiums increasing? You’re not alone. Ben Mattlin explains that 2022 was the worst year for property and casualty insurers in over a decade in his recent FA-Magazine article.
Jennifer Kim contributed, explaining the macroeconomic factors of inflation and rising interest rates had a direct impact on liabilities. She shared, “While P&C insurers receive higher bond yields, any higher-than-expected claim costs for home, auto, or other insurance lines can put a large strain on earnings.” Read more here: https://www.fa-mag.com/news/2022-was-the-worst-year-for-the-p-c-industry-in-more-than-a-decade–says-the-insurance-information-institute-71617.html