US insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International Insurance Society (IIS).
Inflation and Insurance Replacement Costs was developed by the Insurance Information Institute (Triple-I) and analyzes the relationship between overall inflation and insurance replacement costs for property and casualty (P/C) insurers in six of the world’s largest insurance markets between 2018 and 2022: Canada, the European Union (EU), Japan, Korea, the United Kingdom (UK), and the United States (US). P&C insurers offer auto, home, and business coverage. Both the IIS and Triple-I are affiliates of The Institutes.
