Navigating the insurance crisis: How banks and credit unions can overcome soaring costs and secure their future

We’re in the middle of an insurance crisis: Credit Unions and community banks are being dropped by their providers while premiums skyrocket.

Likewise, consumers face escalating insurance costs as global economic instability intensifies.

Here’s a snapshot of the escalating insurance costs:

• Car Insurance: A 14% surge from 2022-2023 (Quadrant Information Services).

 

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