"Most homeowners cannot afford year after year increases, running 30-40 percent. In some cases, 100 percent or more," said Mark Friedlander with the Insurance Information Institute. He points to four factors driving up insurance costs. Florida's weather, too much litigation, reinsurance costs for...
AUTO INSURANCE PREMIUMS ARE SKYROCKETING. WHAT'S TO BLAME? State Farm followed suit last year, saying it would stop accepting new home insurance applications in California due to "historic" increases in construction costsand inflation. A sign is posted in front of a State Farm insurance office o...
As the insurance company expands, its profitability may decrease at an early stage and then increases at a later stage. As explained by Alhassan and Biekpe (2015), when an insure grows, it may meet difficulties in monitoring and control until it starts to have the ability to properly ...
Yet insurers can view these changes as opportunities for growth, looking to expand beyond premium increases by closing the widening protection gap and reducing the prevalence of self-insurance among companies. In an industry in which winners keep winning, inflection ...
underwriting cycles; insurance markets; time series analysis; hidden periodic component; intervention analysis; forecasting JEL Classification: C32; G17; G221. Introduction The dynamics of underwriting profits in the property and casualty insurance industry have been subject to various studies. It is ...
The property's mortgage interest, insurance, depreciation, and other expenses are tax-deductible.3 What Is the Most Profitable Type of Income Property? Normally, properties in which a large number of tenants can reside will offer the most profit potential. Such properties include apartment buildings...
Proliferation of Property Insurance Matching Regulations Increases Litigation RisksPaul E. Dwyer Jr
investments, vehicle ownership, and acquisition of valuable assets, further emphasizing the need for robust insurance solutions. In essence, economic growth not only increases the range of insurable assets but also highlights the crucial role of insurance in ensuring financial security in a thriving ...
Following a fire that may also have caused lasting damage to existing buildings, current market conditions means that the costs of reconstruction or strengthening salvaged buildings are expected to rise, which will also be reflected in higher insurance sums. Further increases in value can be expected...
Many homeowners have witnessed considerable increases in property value over the past few years. According to the According to the National Association of Realtors, the median home sale price in 2022 was $386.300, a 10.21% increase year over year. Along with the meteoric increases in home prices...