What’s causing rate hikes in auto insurance?
The estimated 20% spike in auto insurance rates over the past year is impacting insurance agents significantly, as they are scrambling to retain clients who are reeling from these higher costs.
Rick Gorvett, PhD, FCAS, is a professor of mathematics and actuarial science at Bryant University in Smithfield, R.I., and is a Fellow of the Casualty Actuarial Society. Contact him at rick.gorvett@innfeedback.com.
