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Auto Insurance

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Manage episode 379639888 series 3520150
Content provided by Karl Susman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Karl Susman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

The auto insurance industry in California is currently facing challenges due to increased claims costs coupled with an extended period without rate increases approved by the Department of Insurance. Key points discussed include:- Auto insurance companies are losing money on policies due to increased costs for repairs, replacement parts, rental cars, and labor. These inflationary pressures mean claims payouts exceed premiums collected. - There was a 31-month period where no rate increases were approved, despite the increased costs insurance companies were facing. This resulted in significant losses.- Rate recovery is now happening, with the Department of Insurance approving justified rate increases to bring premiums in line with claims costs and keep insurers solvent. - Once rate recovery is complete, likely within the next 60 days, insurers will resume normal operations and market competition will increase, bringing rates back down from current highs.- Rates will likely remain higher than historic norms due to ongoing inflationary pressures, but should moderate once competition resumes. The message is to expect high rates temporarily until market equilibrium is restored.

Insurance Hour is hosted by renowned insurance expert Karl Susman. Karl is a frequent guest on television stations such as ABC, CBS, Spectrum, The CW and FOX, and now his popular radio program is syndicated TO OVER 30 MILLION LISTENERS throughout California.
Listeners can now tune in to Insurance Hour on:
TUESDAY
1200-1300 | KZSB | 1290 AM | Santa Barbara, Ca
1900-2000 | KZSB | 1290 AM | Santa Barbara, Ca
WEDNESDAY
0952-1000 | KZSB | 1290 AM | Santa Barbara, Ca
THURSDAY
0700-0800 | KCAA | 1050 AM / 106.5 FM | Redlands, Ca
FRIDAY
0900-1000 | KMET | 1490 AM / 98.1 FM | Banning, Ca
SATURDAY
0700-0800 | KTRB | 860 AM | San Francisco, Ca
1200-1300 | KEIB | 1150 AM | Los Angeles, Ca
KION | 1460AM | Salinas, Ca
1300-1400 | KCBQ | 1170 AM / 96.1 FM | San Diego, Ca
1600-1700 | KEIB | 1150 AM | Los Angeles, Ca
SUNDAY
1700-1800 | KFBK | 1530 AM / 93.1 FM | Sacramento, Ca

In addition to traditional radio, Insurance Hour is available on several popular streaming platforms, ensuring that listeners can access the show at their convenience.
Audiences worldwide can now enjoy Insurance Hour at InsuranceHour.com, on YouTube, Amazon Music, Tuneln, Alexa, Apple Podcasts, and the iHeartRadio app.
For more information about "Insurance Hour" and its programming, please contact Lara Starr at pr@insura...

  continue reading

52 episodes

Artwork
iconShare
 
Manage episode 379639888 series 3520150
Content provided by Karl Susman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Karl Susman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

The auto insurance industry in California is currently facing challenges due to increased claims costs coupled with an extended period without rate increases approved by the Department of Insurance. Key points discussed include:- Auto insurance companies are losing money on policies due to increased costs for repairs, replacement parts, rental cars, and labor. These inflationary pressures mean claims payouts exceed premiums collected. - There was a 31-month period where no rate increases were approved, despite the increased costs insurance companies were facing. This resulted in significant losses.- Rate recovery is now happening, with the Department of Insurance approving justified rate increases to bring premiums in line with claims costs and keep insurers solvent. - Once rate recovery is complete, likely within the next 60 days, insurers will resume normal operations and market competition will increase, bringing rates back down from current highs.- Rates will likely remain higher than historic norms due to ongoing inflationary pressures, but should moderate once competition resumes. The message is to expect high rates temporarily until market equilibrium is restored.

Insurance Hour is hosted by renowned insurance expert Karl Susman. Karl is a frequent guest on television stations such as ABC, CBS, Spectrum, The CW and FOX, and now his popular radio program is syndicated TO OVER 30 MILLION LISTENERS throughout California.
Listeners can now tune in to Insurance Hour on:
TUESDAY
1200-1300 | KZSB | 1290 AM | Santa Barbara, Ca
1900-2000 | KZSB | 1290 AM | Santa Barbara, Ca
WEDNESDAY
0952-1000 | KZSB | 1290 AM | Santa Barbara, Ca
THURSDAY
0700-0800 | KCAA | 1050 AM / 106.5 FM | Redlands, Ca
FRIDAY
0900-1000 | KMET | 1490 AM / 98.1 FM | Banning, Ca
SATURDAY
0700-0800 | KTRB | 860 AM | San Francisco, Ca
1200-1300 | KEIB | 1150 AM | Los Angeles, Ca
KION | 1460AM | Salinas, Ca
1300-1400 | KCBQ | 1170 AM / 96.1 FM | San Diego, Ca
1600-1700 | KEIB | 1150 AM | Los Angeles, Ca
SUNDAY
1700-1800 | KFBK | 1530 AM / 93.1 FM | Sacramento, Ca

In addition to traditional radio, Insurance Hour is available on several popular streaming platforms, ensuring that listeners can access the show at their convenience.
Audiences worldwide can now enjoy Insurance Hour at InsuranceHour.com, on YouTube, Amazon Music, Tuneln, Alexa, Apple Podcasts, and the iHeartRadio app.
For more information about "Insurance Hour" and its programming, please contact Lara Starr at pr@insura...

  continue reading

52 episodes

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