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...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Second, auto-insurance prices — our favourite CPI component from the past year! — has also been more muted in the PCE, the Fed’s preferred inflation gauge....
...Tesla owners must be choking on their kale smoothies. Auto insurers have rapidly boosted prices for electric vehicle cover in the past year, much more than for fossil fuel cars....
...As we’ve covered previously, the US’s auto insurance rates have soared 24 per cent over the past two years (v BLS data)....
...this week when his company Knight Insurance agreed to underwrite the former president’s more palatable, reduced $175mn bond....
...Need to know: business General Motors agreed a deal with the UAW union to end the carworkers’ strike, following similar deals struck by Ford and Chrysler owner Stellantis....
...One reason auto insurance can make such a big impact on inflation is, to put it simply, there are way more car owners in the US than there are homeowners in disaster-stricken California, Louisiana and Florida...
...Catastrophe insurance is a leading indicator....
...Today’s top stories The Financial Times revealed that TikTok’s US revenues hit $16bn last year, highlighting the scale of the video app’s American ambitions as its Chinese owner ByteDance — set to become...
...The share price of two of the largest US car insurance companies — Take Allstate and Progressive — have fallen in the past month, reflecting the rising costs of underwriting auto insurance policies....
...Likewise, for auto loans, people in their 30s are now falling behind on their loans at a faster pace than during the pandemic....
...News round-up Bored Ape crypto fans report ‘eye burn’ after Hong Kong party (FT) Ken Griffin warns against hedge fund clampdown (FT) Greensill misled German regulator on insurance deal, IAG claims (FT...
...Car insurance didn’t help either! It was up a seasonally adjusted 2 per cent for the month, and 17 per cent over the year ended May. 3) Food....
...They say that the fees they can charge in most cases are capped at about €7,000 and are often paid by their clients’ insurance. “It’s cost intensive,” said Cäsar-Preller owner Joachim Cäsar-Preller....
...The company is also increasingly facing fierce competition from domestic rivals including BYD and Li Auto....
...Cars are highly taxed there, so his Mercedes E-Class E200 had cost him $125,000 — the same car in Switzerland, where auto taxes are far lower, costs around $50,000....
...The group believes it can convince business owners to pay up to $5,000 per vehicle for a variety of services including smart insurance and hands-free driving....
...As part of the deal, Fairfax will invest $200mn in JAB’s consumer fund JCP V.The group, which also owns brands such as Pret A Manger, Krispy Kreme and Panera Bread, estimates that revenues and gross written...
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...And Keith Barr, chief executive of Holiday Inn owner InterContinental Hotels, recently opined that the UK stock market is “not a very attractive place”....
...The rule changes also included tweaks that make it easier to cancel policies and turn off auto-renewals....
...They say new owners can help companies streamline their operations, pushing them to become more competitive....
...Business owners’ needs extend beyond insurance coverage, of course, and brokers have long provided ancillary services — cyber support being the latest example....
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...If you happen to receive Medicaid or you have private insurance in Alabama, it is illegal for either of those to cover abortion. When Roe v Wade is overturned, Alabama is in a really, really bad shape....
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