When will insurance rates fall?

Auto insurance prices have risen 19.5% from a year ago, according to data from the US Bureau of Labor Statistics, and they may not be done rising yet.

S&P Global Market Intelligence insurance sector strategist Tim Zawacki joins Wealth! to discuss the state of the insurance sector, climate change’s impact on it, and how it may operate move forward.

Zawacki outlines when some relief may happen: “It’s probably going to be 2025 before that relief actually starts to show up, in terms of the absence of rate increases or, in some cases, we have started to see some rate decreases. But again, the rate decreases that we are seeing are coming in places where there were very significant rate increases and the companies may have just overshot a bit on those rate increases.”

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This post was written by Nicholas Jacobino