40-year record high inflation is main driver behind rising insurance costs: APCIA CEO David Sampson

David Sampson, American Property Casualty Insurance Association president and CEO, joins 'Squawk Box' to discuss the surging auto and home insurance costs, what's driving the rising insurance rates,

[BrokenWill]

My car insurance went up 50%, then it went to $0 when I cancelled it.

[TonyRiley-qbsw]

Someone said that it's time to be concerned when you start to see individuals shoplifting groceries rather than big-screen televisions, and i agree. Truth is, inflation will never reach 2% ever again, maybe in the next life, but not this one. Anyone purchasing groceries and gasoline is aware that real inflation is much over 10%; they simply lie about it like cheap blankets. In reality, interest rates would be in the 20s because of how high inflation is. But then despite the severe bear market, I am aware of certain investors that continue to earn over $365, 000. Wish I could accomplish that.

[zwatwashdc]

I like this guy. He seems no nonsense. Realism is much needed right now.

[Burgermonster]

Corporate profits and people driving $80K SUVs is driving inflation. You can't stop inflation as long as there is excessive greed.

[mitchellchristianson]

You forgot about the biggest one healthcare insurance. I pay $6, 000 a year

[qtnnwfu]

Corporate profits are behind the rise in insurance rates. Look at the insurance stocks

[tedstriker]

Fed says it’s transitory, fails us. Fed says it’s just one, no two, no three CPI reports with inflation up. Fails us! We are poorer under this dove Fed and this government! Please someone make the difficult choices to stop inflation!

[RichiiRich]

Meanwhile, Biden sends 80 billion to ukraine. 🤣🤣 Thank the dem voters for this.

[hajaminola]

When will it all come crashing down? Like 2008? Something lurking behind the scenes that they're not telling us...keep the consumers confused! Thats the name of the game.

[SimonStormFrigon]

Yet all of the top Insurance Companies have seen their stock rise to all time highs lol

[PelosiStockPortfolio]

Yes, everything increased about 30% since the pandemic. That 30% increase has already been applied to insurance costs. The problem is, I just got my new 6 month term auto insurance bill, and it went up another 30% compared to 6 months ago.

[DeadCat-]

When the media says inflation they give CEOs like this an EXCUSE to raise rates.

[americanaforever]

Great piece on how destructive inflation is and how regressive it’s pain is distributed

[braddaniel]

We are not looking at all the reasons why rates have been going up. Look at the TV commercials. Who they are hiring to do these commercials & when these commercials are being aired (Like: Sporting events, High-cost TV events & shows). - You indirectly pay for all that.

[youngkim]

what i hate most- insurance ad always pretend "i am on your side" Hate that BS

[Hdc]

If the dollar store is raising prices to have 5 to 7$ items we are in trouble.

[KJB-gnmr]

At least you can get ( home ) insurance . How about ( cos that offer ) no home policies , then no ( underwriting ) car policies . Insurers ARE gouging policyholders, and lawmakers are complicit .( PAC $ ).

[rivernorthhomes]

Bidenomics...but at least no more mean tweets

[Stud_muffin]

They just had Steve Rattner on Morning Joe, and he claimed gas prices only rose a little over 1% for March. I don't know what state he lives in, but in MD, the price of gas went up 30 cents a gallon for regular, seemingly overnight, which by my math is 10%. It dropped back 5 cents, since then. Interest rates only effect oil and food prices indirectly, they need to get food chain gouging and oil profits under control. We may be producing more oil than ever before, but it isn't translating to lower prices because oil companies get billions in profits every year, since the oil embargo of 1974.

[Carlos-imhn]

Please interview Professor Steve Hanke re inflation and hyperinflation at the macro level.