Retail

Auto insurance rates rise, but insurers brace for higher costs ahead

0


An employee at a used auto dealership treads water as he checks on vehicles they are moving out of the rising waters from two days of heavy rain in Lexington, Miss., Thursday, June 10, 2021.

Rogelio V. Solis | AP

Despite recent increases in auto insurance rates, the market is still soft, according to Elyse Greenspan, a managing director at Wells Fargo.

“The increase sequentially was very modest,” Greenspan said in an interview. “The reason why there was a strong increase year over year is because the premium base in May 2020, was impacted by all the refunds.”

As the amount of driving consumers did fell, auto insurers refunded $14 billion in premiums last year, according to the Insurance…



Source cnbc.com

0 0 votes
Article Rating

Biogen Alzheimer’s drug and the new battle over dementia treatment

Previous article

Meet the researcher trying to get Biden to forgive student debt

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Retail