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During the peak of COVID lockdowns, miles driven declined dramatically while auto insurers posted highly profitable quarters and policy holders enjoyed premium cuts and rebates. But the pandemic recovery commenced, pushing miles driven higher along with pricing for used cars and parts and forcing a reversal of fortune for auto insurers. Josh Shanker joins us to discuss how the the recent hit to auto insurance profits will result in insurers pushing premium prices higher, likely leading consumers to shop around for better rates and resulting in market share shifts. He advises consumers to shop for insurance early while insurers and regulators implement premium increases. Josh also discusses long term implications for the industry from innovative safety technology and autonomous vehicles.
"Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities.
©2022 Bank of America Corporation. All rights reserved.
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During the peak of COVID lockdowns, miles driven declined dramatically while auto insurers posted highly profitable quarters and policy holders enjoyed premium cuts and rebates. But the pandemic recovery commenced, pushing miles driven higher along with pricing for used cars and parts and forcing a reversal of fortune for auto insurers. Josh Shanker joins us to discuss how the the recent hit to auto insurance profits will result in insurers pushing premium prices higher, likely leading consumers to shop around for better rates and resulting in market share shifts. He advises consumers to shop for insurance early while insurers and regulators implement premium increases. Josh also discusses long term implications for the industry from innovative safety technology and autonomous vehicles.
"Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities.
©2022 Bank of America Corporation. All rights reserved.
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