Insurance is making national headlines in 2023 as major providers retreat from writing new policies in large parts of the country and renewal premium prices skyrocket. Elevated asset valuations, escalating rebuilding costs, and larger and more frequent natural disasters have lowered the insurers’ profitability and are likely to result in sustained premium price hikes in the coming years. Insurance is a central input to the US economy. As an economically connected and highly regulated industry, the inflationary impacts of disruptions to insurance typically transmit through the economy over multiple years and that is ... (full story)