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Inside P&C’s news team runs you through the key highlights of the week. -
Sources expect rates to increase in the mid-high single-digit range through at least 2023, closer to 15% to 25% for higher risks.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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August’s overall consumer price index edged up 0.1 points, after no change in the prior month.
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Used car prices in August fell further, down 4% from July, according to auction house Manheim’s monthly market report.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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With the recapitalization, the Chattanooga, Tennessee-based brokerage expects to grow to $1bn in GWP from ~$500mn in three years.
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The Manheim Used Vehicle Value Index declined to 211.6, up 8.8% from a year ago but showing a gradual decline after reaching a January peak of 236.3, except for an increase in May.
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The motor vehicle insurance index rose 7.4% year on year that month, from 6.0% in June, while the annual gain in all-items CPI dropped to 8.5% from 9.1%.
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This is the second monthly decline after May and a sign of continued moderation after the index reached a peak in January.
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The broker sees rising costs pushing more careful underwriting and rate rises across multiple business lines for the rest of 2022.
