"For decades, the insurance industry, particularly P&C, have taken for granted that their products are required," Josh Levine, Cake & Arrow founder and CEO, said in a release. "But as auto and home premiums double or triple, and insurers pull out of riskier markets, the cost of insurance may be reaching a tipping point, making it truly unaffordable for some and not worth the expense for others. "For decades, the insurance industry, particularly P&C, have taken for granted that their products are required," Josh Levine, Cake & Arrow founder and CEO, said in a release. "But as auto and home premiums double or triple, and insurers pull out of riskier markets, the cost of insurance may be reaching a tipping point, making it truly unaffordable for some and not worth the expense for others." Credit: eamesBot/Shutterstock.com

When asked if insurance helped reduce financial worries, the answer from a cross-section of working-aged Americans was "kind of," with many reporting insurance only offers limited relief from financial anxiety, according to consumer experience and research firm Cake & Arrow.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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