The rising costs of car insurance

Car insurance costs have risen nationally by 56% since January 2020 according to the Bureau of Labor Statistics measure of consumer prices, making it one of the largest cost increases for millions of American families. What is driving the increase in car insurance costs? How are regulators responding? And should we expect insurance rates to level off, decline, or continue to rise?

New York Department of Financial Services Acting Superintendent Kaitlin Asrow is on the front lines of this issue. NYDFS is one of the largest insurance regulators in America, with New York playing a leading role in insurance and financial regulation for decades.

On June 10, Acting Superintendent Asrow will share her views and NYDFS’s plans to help ensure New Yorkers have access to quality insurance. Subsequently, a panel of experts representing insurers and consumers will offer their thoughts in a bumper-to-bumper discussion of ideas.

This event is a part of the Brookings Center on Regulation and Market’s ongoing “Series on Financial Markets and Regulation.” Online viewers can pose questions in advance by emailing [email protected].