A number of personal Auto insurers will implementmid-single-digit rate increases over the next several quarters, tooffset higher claim frequency and severity trends, according tothe ”P&C Personal Insurance—U.S. Outlook”from Moody's Investors Service. Current severity trendsreflect new car sales at near-record levels, increased fraud,higher speed limits in certain states, pricier vehicle componentsand more serious accidents.
Moody's says to also expect low-to-mid-single-digit rateincreases in the Homeowners' market, which will drive underlyingmargins and lower reinsurance costs.
Below, a summary of the findings from Moody's. Click image toenlarge.
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