Aug. 14, 2024
Measuring and Assessing (Homeowner) Insurance Affordability
Today it is difficult to not see news coverage highlighting growing U.S. insurance costs and affordability challenges. Here are some fairly recent examples 鈥 鈥溙; 鈥溾; 鈥 鈥 But importantly what is driving these insurance costs increases, given cost increases how does one measure and determine whether insurance is affordable versus unaffordable, and facing affordability challenges what options do consumers have at their disposal and are they deploying them? During this event we will address these questions with panelists drawing upon their own existing data, studies, and interactions with consumers to provide objective evidence to the discussion and highlight existing knowledge gaps in the measurement and assessment of insurance affordability.
The event will begin with a presentation of trends in the cost of insurance, focusing largely on homeowner property insurance. The presentation will then present some metrics of insurance affordability and how those have changed over time. Following the presentation will be a panel discussion. The panel will discuss the causes and consequences of cost trends and the implications for insurance affordability, including the best ways to measure affordability. The panel will also discuss what options consumers have when facing affordability of insurance issues and how often and/or well they are aware of and employ these options.
Learning Objectives:
- Identify trends in the cost of insurance, focusing largely on homeowner property insurance
- Assess the causes and consequences of cost trends and the implications for insurance affordability, including the best ways to measure affordability
- Highlight options consumers have when facing affordability of insurance issues and how often and/or well they are aware of and employ these options
Panel Speakers:
Amy Bach, Executive Director, United Policyholders & 不良研究所官方 Consumer Representative
Vickie Kilgore, Assistant Vice President, Insurance Research Council (IRC)
Dr. Lars Powell, Director, Center for Risk and Insurance Research, University of Alabama
Moderated by:
Jeff Czajkowski, Director, Center for Insurance Policy and Research
Agenda
Materials
CIPR's special session is open to all registered听不良研究所官方 2024 Summer National Meeting听participants.听
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (不良研究所官方) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 不良研究所官方, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 不良研究所官方 staff supports these efforts and represents the collective views of state regulators domestically and internationally.