According to data from the Bureau of Labor Statistics, auto insurance costs have risen 19.5% from last year, and the increase may not stop there.
Tim Zawacki, Insurance Strategist at S&P Global Market Intelligence, appears on Wealth! to discuss the current state of the insurance sector, the impact of climate change, and how it will operate going forward.
Zawacki outlined when any relief may come: “It will probably be 2025 before we really start to see relief in terms of not seeing interest rate increases, or in some cases, interest rates starting to come down. But again, the rate declines that we’re seeing now are occurring in places where there were very significant rate increases, and companies may have just outperformed the rate increases a little bit.”
For more expert insights and the latest market trends, click here to watch this full episode of Wealth.
This post Nicholas Jacobino