Insurance Premiums To The Moon
Insurance premiums in the US have significantly outpaced inflation and wage growth, with a 74% increase in homeowners insurance and 38% in health insurance from 2018 to 2025. While some attribute this to corporate greed, the dominant factors appear to be rising external circumstances such as increased catastrophe losses from natural disasters and higher construction/replacement costs. Market withdrawals by major insurers in states like California and Florida have further concentrated risk and driven up prices due to reduced competition. AI
IMPACT Generative AI is mentioned as a potential factor in increasing insurance fraud, which could indirectly impact premiums.