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It’s the biggest jump since 1976 and the 16th consecutive month of annual gains exceeding 10%, according to the Bureau of Labor Statistics.

The outlook for the U.S. property & casualty insurance industry is more favorable than 2023, with expected strong premium growth and easing inflation ​pressures, according to Swiss Re.

As personal auto insurance rates continue to accelerate upward, some drivers are taking to the market to find cheaper rates—while others are choosing to drive without coverage.

With the consumer price index for auto insurance rising 17%, shopping rates were driven by consumers searching for lower premiums, as well as an increase in new car sales.

Nearly one-third (31%) of U.S. auto insurance customers have seen their rates increase in the past year, leading to the largest decline in customer satisfaction in 20 years.

This week, Nationwide announced it is pausing writing business in certain lines of insurance, joining the list of insurers who have withdrawn from markets.

As economic anxiety increases and the hard market pushes insurance premiums higher, 51% of consumers said they are looking for ways to save money on their existing insurance policies.

While homeowners and personal articles insurance on a composite basis were down slightly in the first quarter of 2023, auto insurance rates increased.

Here is a collection of findings from recent studies that reveal the true extent of distracted driving in 2023.

Rising economic and social inflation, supply chain constraints, catastrophic weather driving up losses, and historic cost increases for reinsurance has led to significant pressure on the property-casualty industry.