Grant’s Current Yield Podcast
INFLATIONARY INSURANCE
Mar 8, 2024
Guests discuss how social inflation impacts auto insurance, rising jury awards & settlement amounts, challenges in insuring California and Florida, shifting from weak to strong pricing in the market, and the investment opportunity in insurers like the Hartford.
32:49
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Quick takeaways
- Rising auto insurance premiums driven by social inflation concerns and legal industry impact.
- Insurance industry challenges from post-pandemic supply chain disruptions and labor shortages.
Deep dives
Increasing Auto Insurance Premiums and Social Inflation
Auto insurance premiums have risen by 20.6% annually in January, according to the CPI. A key concern is social inflation, where rising jury and settlement awards inflate costs. This trend is amplified by legal advertisement proliferation and litigation finance industry growth. The insurance industry faces challenges adjusting to these inflationary trends.
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