The insurance industry recorded a worst-ever combined ratio of $1.12 in 2022, which means for each $1.00 of revenue brought in there was $1.12 of claims (and expenses) paid out. These poor results were the compound effect of several factors. Some of the largest insurance companies reported results like this: State Farm at $1.27, USAA at $1.15, Nationwide at $1.16, and Allstate at $1.13. When claims and expenses outpace revenue by such a large margin, only one thing can happen.

Join Jake Merry, Derek Boer, and Brian Boer of Boer Insurance Group for an informal discussion about what caused poor results for the insurance industry in 2022, including where rates are at midway through 2023 and what to expect going forward.