Madison, NJ (PRWEB) February 05, 2018
In a recently-released report, insurance research firm Assured Research projected that the Tax Cut and Jobs Act could stimulate demand for P/C insurance products by some $215 billion over the ten-year scoring period 2018-2027. That's if the bullish economists are correct that the run-rate GDP by 2027 will be some 4-5% higher than it would absent reform.
According to Assured Research President, William Wilt, "Economic tailwinds appear to be gathering speed; we encourage property/casualty insurers to study the economy and position their products and sales accordingly. The impact of tax reform across industries won't be even."
The report also analyzes the sensitivity of commercial P/C premiums to various sectors of the U.S. economy and it identifies specific behavior changes incentived by reforms. According to their work, tax reform may not be immediately helpful for home insurance, but it could stimulate sales of small business and professional policies.
A complimentary summary of the Assured Research work can be obtained by visiting the Contact Us page of their website.