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Insurance premiums may increase with growth of economy

Dec 13, 2012

Life and health insurance premiums are set to increase as the economy continues to improve, according to reinsurance goliath Swiss Re.

As the state of the economy in the U.S. and the world builds momentum, consumers may see higher insurance rates, according to the industry leader.

Life insurance premiums are expected to increase by 2 percent in 2013, while property and homeowners insurance policies may jump in cost by 3 percent in the coming months.

"Economic activity is expected to be moderately stronger next year, and insurance pricing is projected to improve," Swiss Re said in a statement.

However, rather than despair at rising prices, consumers should celebrate the growth of the economy and what that will mean for recovering markets. Increasing insurance rates are a sign of a healthy global marketplace.

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