The Insurance Information Institute found that since 2008 commercial and personal auto insurers have been faced with auto replacement costs increasing 40% more than prices overall. Credit: megaflopp/Adobe Stock
From 2013-2022, growing litigation costs and economic inflation combined to add $96 billion-$105 billion to commercial and personal auto insurance loss and defense containment costs (DCC), according to a study from the Insurance Information Institute (Triple-I).
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
