From CNBC:

Rising insurance premiums are causing a stealth inflationary cost for companies, impacting corporate profits. In its latest earnings report, Travelers disclosed a 14% increase in premiums for business policies, with homeowner renewal premiums up 21% and auto policies up 17%. Despite increased costs, demand remains high, with retention staying historically high and new business growing significantly.

J.B. Hunt, a freight shipper, reported a $53 million charge related to higher insurance and claims expenses in the latest quarter. Chief Financial Officer John Kuhlow stated that premiums for the company surged by 50% to 60% going into 2024, driving inflationary pressures. CEO John Roberts noted that these inflationary costs ultimately get passed on to customers and consumers.



Read more: Insurance costs hit corporate earnings at Travelers and J.B. Hunt