Auto insurance inflation set to tap on the brakes, BofA economist says
==========
Rising auto insurance premiums have been a notable driver of inflation, with motor vehicle insurance jumping 22.6% in April from a year earlier. Bank of America Securities Economist Stephen Juneau attributes this to underwriting losses in the industry, including higher vehicle prices, increased repair costs, and a higher number of accidents. However, Juneau believes that motor vehicle insurance rate growth is expected to slow as insurers return to profitability, vehicle prices stabilize, and wage growth cools. The Federal Reserve will be closely monitoring personal consumption expenditure figures to gauge inflation. P&C insurer stocks, including Allstate, Berkshire Hathaway, and Travelers, have been climbing alongside rising insurance premiums.
#AutoInsurance #Inflation #BankOfAmerica #Premiums #UnderwritingLosses #VehiclePrices #RepairCosts #Accidents #FederalReserve #PersonalConsumptionExpenditure #P&cInsurerStocks #Allstate #BerkshireHathaway #Travelers
https://seekingalpha.com/news/4110270-auto-insurance-inflation
Seeking Alpha /
npub1qpf…damf
2024-05-26 23:13:51
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-05-26 23:13:51Event JSON
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"content": "Auto insurance inflation set to tap on the brakes, BofA economist says\n==========\n\nRising auto insurance premiums have been a notable driver of inflation, with motor vehicle insurance jumping 22.6% in April from a year earlier. Bank of America Securities Economist Stephen Juneau attributes this to underwriting losses in the industry, including higher vehicle prices, increased repair costs, and a higher number of accidents. However, Juneau believes that motor vehicle insurance rate growth is expected to slow as insurers return to profitability, vehicle prices stabilize, and wage growth cools. The Federal Reserve will be closely monitoring personal consumption expenditure figures to gauge inflation. P\u0026C insurer stocks, including Allstate, Berkshire Hathaway, and Travelers, have been climbing alongside rising insurance premiums.\n\n#AutoInsurance #Inflation #BankOfAmerica #Premiums #UnderwritingLosses #VehiclePrices #RepairCosts #Accidents #FederalReserve #PersonalConsumptionExpenditure #P\u0026cInsurerStocks #Allstate #BerkshireHathaway #Travelers\n\nhttps://seekingalpha.com/news/4110270-auto-insurance-inflation",
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