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If you have seen your property and casualty insurance premiums rise significantly over the past several years, you are not alone. Across the United States, coverage for homes, autos and valuable collections have increased at a double-digit pace. Unfortunately, few families can expect any moderation in the coming year, particularly those in higher risk “Cat-rated” areas. Affluent homeowners in Florida, California and several other states can expect to see premium increases of at least 20% and may also have to accept more restrictive coverage terms. Others may even have difficulty securing coverage at any price.1 Against that backdrop, here are some answers to questions you may have about the cost and availability of coverage to protect your family, your home and your possessions. Presented here is an article by HUB International, republished by permission. Consult your insurance professional to discover why it’s happening, what to expect and how to minimize...
09.18.2023
The year 2022 was a bloodbath for both equity and bond markets–the S&P 500 was down 18% and the Bloomberg US Aggregate Bond Index had its worst year ever, down 13%. This year, 2023, began with the US debt ceiling standoff, followed by a banking crisis, and continued rate hikes by the major central banks. The economy seemed like it would get worse before it got better, and the consensus was calling for a near-term recession. However, the stock market quickly shrugged off many of these concerns. Year-to-date as of August 31, the S&P 500 is up approximately 17% and NASDAQ is up approximately 34%. The S&P 500 is officially in a bull market (i.e., up at least 20% from its recent lows in October 2022). With the Federal Reserve and some economists no longer forecasting a recession[1], it makes one wonder what has changed in the last few months....
