Best&apos;s Review Examines Auto Insurance Sector

Best's Review Examines Auto Insurance Sector

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--
The October issue of Best’s Review focuses on U.S. private passenger auto insurers:

“What’s Driving the Rise in Auto Costs” examines the trends that have led to large underwriting losses in 2022.
“When It Comes to Insuring Electric Vehicles, It’s All About the Battery” looks at how the insurance industry is grappling with the cost difference in average repairs between electric-powered vehicles and those with combustion engines.
“AM Best: Auto Insurance Profitability Unlikely in Near Term as Rate, Inflationary Pressures Continue” features an excerpt of a Best’s Market Segment Report that explains how rate adequacy remains a challenge because of an increase in loss severity.

Also included in the October issue:

“Surge of Catalytic Converter Thefts Tied to Soaring Prices of Precious Metals” provides a look at coverages and exposures in automobile and truck dismantlers, based on Best’s Underwriting Reports and Best’s Loss Control Reports.
“RGA President: Life Reinsurance Growth Strengthens in Asia, Europe” describes how the Hong Kong business is benefitting from the recovery of mainland China to pre-COVID-19 levels.
“Parametric Insurance Helps Restore Dwindling Coral Reefs” looks at how the first-of-its-kind policy in the U.S. is financing work by The Nature Conservancy to repair ecosystems critical to the health of the water and the land.
“‘Insurance Guys’ Driven to Help Other Agents—Without Boring Them” features an interview with Scott Howell and Bradley Flowers of The Insurance Guy Podcast about themselves and their content.

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. Access to the complete content of Best’s Review is available here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.