Despite handwringing over the availability and rising cost of insurance, premium increases aren’t keeping up with the rate of inflation.
Eric Goldberg speaking at RLM 2024

Despite handwringing over the availability and rising cost of insurance, premium increases aren’t even keeping up with the rate of inflation, according to Eric Goldberg, an attorney and department vice president of commercial lines for the American Property Casualty Insurance Association, an organization that represents insurers. “Insurance is not a source of inflation but a reflection of it,” Goldberg told a crowd of commercial practitioners at the REALTORS® Legislative Meetings in Washington, D.C., in May.

Of course, inflation is just one of the factors behind today’s insurability challenges, he said. Goldberg pointed to troubling legal trends—including jury anchoring, in which plaintiffs’ attorneys request excessive awards, and third-party litigation financing by those who approach the courts as an investment opportunity—that are creating losses for insurers.

Other factors include climate change, the increase in exposure values for buildings in hazard-prone areas, the cost of reinsurance, office vacancy rates, and ESG activism. On a positive note, Goldberg said, the insurance industry is taking an active role in the effort to make areas more resilient and mitigate risks.



The amount of money poured into litigation by third-party financers in 2023 according to the Amercian Property Casualty Insurance Association.

Financers admit they “make it harder and more expensive to settle cases.”

Financing is now being reported in 30% of patent litigation.

Source: The Amercian Property Casualty Insurance Association

View Goldberg’s presentation slides and more from the REALTORS® Legislative Meetings.


View and download presentation slides and files from NAR meetings and discussions.

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