losses paid by property casualty insurers have steadily increased for decades l.
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Losses Paid by Property/Casualty Insurers Have Steadily Increased for Decades Total losses paid by insurers increased by $146 billion or nearly 100% from 1987 through 2007

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losses paid by property casualty insurers have steadily increased for decades
Losses Paid by Property/Casualty Insurers Have Steadily Increased for Decades

Total losses paid by insurers increased by $146 billion or nearly 100% from 1987 through 2007

Dip in 2006/07 was associated with drop in catastrophe losses, which is unlikely to persist. Losses and loss ratios in 2007 rose. During 2006/07, the price of many types of insurance fell.

Sources: A.M. Best; 2007 figure is annualized from 9-month ISO results; Insurance Information Institute.

insurance premiums are shrinking relative to size of economy
Insurance Premiums Are Shrinking Relative to Size of Economy

Premium growth is less than GDP growth, meaning more money in the pockets of consumers

Sources: A.M. Best, US Bureau of Economic Analysis, Blue Chip Economic Indicators; Insurance Information Institute.