Latin American Agents Association

P/C Industry Disputes Consumer Group’s Claims It’s Overcapitalized, Avoiding Risk

Traditionally risk-takers, property/casualty insurance companies have become more like risk-avoiders when it comes to weather-related claims, leaving consumers and taxpayers to pay much higher costs, according to a new report by a national consumer group. The report by the Consumer Federation of American (CFA) also charges that the P/C industry is “significantly overcapitalized” and urges state regulators to block insurer rate hikes.

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