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This PowerPoint report, presented by Robert Hartwig, president of the Insurance Information Institute, focuses on the state of global and U.S. auto insurance markets and how the global economic slowdown and credit market crunch are affecting them. The presentation discusses major economic and demographic determinants of the demand for auto insurance in countries around the world, which is driven primarily by demand for private passenger and fleet vehicles. Vehicle sales and registration statistics for the U.S. and major European and Asian economies are presented. The sharp global downturn in vehicle sales will slow growth for auto insurers internationally. In the longer run, the growth prospects are highest in Asia. Other factors influencing growth of vehicle and auto insurance demand include investment in public transportation systems, limits on CO2 emissions as concerns about global warming continue to mount, fuel efficiency standards and high energy prices. The relationship between rising gas prices and auto claim frequency is reviewed in detail using current data with comparisons to the energy crises of the 1970s. The report concludes with an overview of the entire property/casualty industry.
The following presentation is called "The Global Auto Insurance Industry in Uncertain Times: Challenges Amid the Global Economic and Regulatory Storm". It was presented by Dr. Robert P. Hartwig in October 2008.
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