Balancing Liability Insurance Requirements and Premium Costs

1min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Different countries have varying minimum liability insurance requirements, with Germany at 7.5 million euros, Britain having unlimited liability for injury, and the US as low as $15 or $20,000. Despite higher rates of car crashes in the US, liability limits remain low as increasing requirements would raise insurance costs, which is generally unpopular. Some states like Michigan have reduced insurance costs by removing certain coverage requirements, resulting in cheaper premiums but not eliminating the financial burden of car crashes.

As had long been telegraphed, Ukraine’s top general Valery Zaluzhny is now out; Oleksandr Syrsky is in. That marks a new phase in the war, and an opportunity for President Volodymyr Zelensky to reframe its terms. American car-insurance costs are skyrocketing—but, perversely, they are probably still too low (9:43). And the bonkers conspiracy theories involving the Super Bowl and Taylor Swift (15:03).

Get a world of insights for 50% off—subscribe to Economist Podcasts+

If you’re already a subscriber to The Economist, you’ll have full access to all our shows as part of your subscription. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.