Consumer sentiment was down nearly 6% in August versus July, declining for the first time in four months. Consumer sentiment confirmed its early-month reading, moving down about 6% from July, and over 14% from August 2024 according to the University of Michigan’s Surveys of Consumers report released August 29. The Consumer Sentiment Index fell to […]
Consumer Sentiment Down in Mid-August
Preliminary results show declines compared to July and index remains below year ago levels. The University of Michigan Index of Consumer Sentiment was down over three index points from July according to the preliminary results for August released Friday. The preliminary result of 58.6 was 3.1 points or 5% lower than 61.7 in July. The […]
U.S. Auto Body Repair Prices in July Up Compared to Previous Month and Year
Auto body prices have been up on a month-over-month basis since February. The most recent government figures on inflation through July show the auto body repair prices were up versus June and July 2024. The rate of growth of auto body repair prices, a measure of the amount spent on body repairs across the U.S., […]
Personal Auto Insurance Underwriting Results Best Since Pandemic
Insurance Information Institute reports 2024 personal auto combined ratio outperformed broader property-casualty insurance. Report examines correlation between new vehicle and parts inflation to premium increases. The United States personal auto insurance industry achieved its strongest underwriting performance in the post-pandemic era, recording a net combined ratio of 95.3 in 2024, according to a new Issues […]
Insurance Information Institute Projects P/C Insurance Replacement Costs Outpacing CPI in 2025
The Insurance Information Institute (Triple-I) expects the pace of increase in average property/casualty insurance replacement costs to exceed increases in the consumer price index in 2025 and beyond as auto replacement costs rise for the first time since 2022 as CPI continues to decline. Triple-I’s replacement cost index for personal and commercial auto tracks changes […]
Employers Expect Health Benefit Cost to Increase More Than 5% in 2025
According to report by Mercer, this will be the third consecutive year of health benefit cost increases above 5%. Mercer, a business of Marsh McLennan (NYSE: MMC) released preliminary results from its 2024 National Survey of Employer-Sponsored Health Plans. According to an analysis of responses from over 1,800 US employers, total health benefit cost per […]
U.S. Auto Body Repair Prices Down in July Compared to Previous Month
While auto body prices remain above last year, prices have been down on a month-over-month basis since May. The most recent government figures on inflation through July show the rate of growth of auto body repair prices is below the rate of general inflation for the fifth time this year after more than 30 months […]
U.S. Employer Health Care Costs Projected To Increase 9 Percent Next Year
Projected increase is above the 6.4% increase reported this year. The average cost of employer-sponsored health care coverage in the U.S. is expected to increase 9.0%, surpassing $16,000 per employee in 2025, according to Aon (NYSE: AON), the global professional services firm. This projected increase, which assumes employers do not implement employee cost sharing increases […]
U.S. Auto Body Repair Prices Down in May Compared to April
The rate of increase in auto body prices was below the increase in the national consumer price index. The most recent government figures on inflation through May show the rate of growth of auto body repair prices is below the rate of general inflation for the third time this year after more than 30 months […]
U.S. Auto Body Repair Prices Up Under 2% in April Compared to Last Year
The rate of increase was below the increase in the national consumer price index. The most recent government figures on inflation through April show the rate of growth of auto body repair prices is now below the rate of general inflation after more than 30 months in a row of higher increases. The year-over-year (YoY) […]
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